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Economics Past Questions and Answers

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Economics Questions

Question 4216:

The professional that view cost in term of alternatives sacrificed is the ____________

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A Accountant
B Cashier
C Economist
D Manager
E Tax collector

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Question 4217:

Which of the following is true of a perfect market situation?

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A Price = AR=MC=AC
B Price = DD = MC = AC
C Price = AC = MC = AR
D Price = AR = MR = DD
E Price = MR but MR < AR

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Question 4218:

The best way of presenting data in tabular form is in ____________

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A Bars and columns
B Charts and lines
C Maps and rows
D Pictographs and histogram
E Rows and columns

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Question 4219:

In the equation MV = PT; V stand for ____________

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A Velocity of circulation of money
B Velocity of price change
C Volume of goods produced
D Volume of money
E Volume of transaction

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Question 4220:

Which of the following is a major export crop in Nigeria?

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A Cocoa
B Coffee
C Copper
D Kola nut
E Soy beans

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