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Economics Past Questions and Answers

Economics Questions

Question 356:
Firms embark on vertical integration in other to
  • 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
View Answer & Explanation
Question 357:
The voting power in co-operative societies is vested on
  • A Management
  • B Members without loan
  • C Shareholders
  • D Members with the highest contribution
View Answer & Explanation
Question 358:
An important role of agriculture in Nigeria's economic development is the
  • A Processing of raw materials for industries
  • B Regulation of price system
  • C Provision of infrastructure
  • D Provision of employment
View Answer & Explanation
Question 359:
A major feature of an underdeveloped economy is
  • A Excess capacity utilization
  • B Low rate of population growth
  • C Low level of standard of living
  • D Low level of unemployment
View Answer & Explanation
Question 360:
An advantage of large-scale farming over peasant farming is in the area of
  • 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
View Answer & Explanation