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Economics Past Questions and Answers

Economics Questions

Question 4246:
A one-man business is controlled by ____________
  • A An active partner
  • B Board of trustees
  • C Board of directors
  • D Dormant partner
  • E The owner
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Question 4247:
A firm with a total of 54 employees produced 108 tonnes of toilet tissues in 3months. What is the average production per employee?
  • A 0.02 tonnes
  • B 0.2 tonnes
  • C 2 tonnes
  • D 20 tonnes
  • E 200 tonnes
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Question 4248:
All the following are the objectives of economic planning EXCEPT to ____________
  • A Reduce the rate of inflation and achieve stable value for the naira
  • B Encourage inflow of public and private capital
  • C Evolve a sequential political transition and enthronement of popular government
  • D Reduce economic dependence on foreign nations
  • E Achieve full employment
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Question 4249:
Points outside the production possibility curves shows ____________
  • A Unequal allocation of resources among factors
  • B Capital production level
  • C Under utilization of resources
  • D Unattainable production level
  • E Effective consummation of resources
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Question 4250:
Which of the following factors will NOT affect supply of maize in Nigeria?
  • A Extension services to farmers
  • B Improve technology
  • C Price of maize
  • D Quantity of wheat produced
  • E Weather and climatic condition
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