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Economics Past Questions and Answers

Economics Questions

Question 4201:
The central point of the Malthusian theory is that ____________
  • A Everybody should become a farmer
  • B Government should provide enough accommodation and food
  • C Increasing population will get enough food
  • D Population increase in geometric progression while food arithmetic progression
  • E Wages has nothing to do with cost of living
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Question 4202:
Which of the following is NOT a factor determining supply?
  • A Cost of production
  • B Climatic condition or weather
  • C Income of the producers
  • D Number of producers
  • E Technological development
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Question 4203:
Central bank of Nigerian started operation ____________
  • A 1958
  • B 1959
  • C 1960
  • D 1963
  • E 1973
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Question 4204:
Minimum price control is aimed at ____________
  • A Increasing the size of the market
  • B Minimizing the profit level
  • C Punishing the consumers
  • D Protecting the consumer
  • E Reducing the size of the market
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Question 4205:
What is meant by utility?
  • A Amount of money derived by a manufacture
  • B A number of things a consumer will enjoy at a time
  • C Amount of satisfaction derive from the consumption of a commodity at a particular time
  • D Amount of satisfaction giving to a producer
  • E Total profit producers will get at a particular time
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