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Economics Past Questions and Answers

Economics Questions

Question 4186:
To finance a deficit balance of payment, a country may decide to ____________
  • A Borrow from abroad
  • B Increase its foreign investment
  • C Privatizes its economy
  • D Reduce domestic consumption
  • E Secure more factor of production
View Answer & Explanation
Question 4187:
A problem of price control is ____________
  • A Development of black-market
  • B Increased earning and higher profit
  • C Increase in employment
  • D Increase investment
  • E Redistribution of income
View Answer & Explanation
Question 4188:
The most generally accepted definition of economics is ____________
  • A An inquiry into the nature and causes of the wealth of nations
  • B The science of material welfare
  • C The science which studies human behavior as a relationship between ends and scarce means which have alternative use
  • D The science that treats phenomena from the stand point of price
  • E The practical science of production and distribution of wealth
View Answer & Explanation
Question 4189:
The demand for a commodity for the sake of what it will yield is ____________
  • A Competitive demand
  • B Composite demand
  • C Effective demand
  • D Joint demand
View Answer & Explanation
Question 4190:
The first commercial oil well in Nigeria was discovered in ____________
  • A 1938
  • B 1951
  • C 1956
  • D 1958
  • E 1961
View Answer & Explanation