Economics Past Questions and Answers

Palm oil industry is located in Old Bendel State because the state ____________

Which of the following sets fully represents factors of production?

Which of the following countries is not a member of the Economic Community of West African States?

Oligopoly means ____________

Use the table below to answer the question below;<br/>The international production set for Nigeria and Austria is;<br/><table class='tbn'><tbody><tr><td> <b>Products</b> </td><td> <b>Nigeria</b> </td><td> <b>Austria</b> </td></tr><tr><td> Cocoa </td><td> 20 tonnes </td><td> 12 tonnes </td></tr><tr><td> Lace </td><td> 1o metres </td><td> 8 metres </td></tr></tbody></table><br/><br/><br/> <br/>The Opportunity cost ratio for cocoa and lace Tor Austria and Nigeria is ____________