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Economics Past Questions and Answers

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Economics Questions

Question 356:

Firms embark on vertical integration in other to

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A Take over markets formally controlled by other firms
B Prevent other firms from entering the market
C Reduce advertisement and management cost
D Enjoy economies of large-scale production

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Question 357:

The voting power in co-operative societies is vested on

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A Management
B Members without loan
C Shareholders
D Members with the highest contribution

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Question 358:

An important role of agriculture in Nigeria's economic development is the

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A Processing of raw materials for industries
B Regulation of price system
C Provision of infrastructure
D Provision of employment

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Question 359:

A major feature of an underdeveloped economy is

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A Excess capacity utilization
B Low rate of population growth
C Low level of standard of living
D Low level of unemployment

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Question 360:

An advantage of large-scale farming over peasant farming is in the area of

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A Providing research and massive employment of labour
B Redistributing national income to various regions of the country
C Encouraging the use of traditional implements
D Encouraging urban-rural migration

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