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Economics Past Questions and Answers

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Economics Questions

Question 4291:

The variance of a given set of numbers is defined as the ____________

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A Absolute value of the standard deviation
B Square of the standard deviation
C Square root of the standard deviation
D Square of the mean deviation
E Square root of the mean deviation

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Question 4292:

The following can be used to improve a country’s balance of payment EXCEPT

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A Anti-dumping policies
B Decreasing taxation on personal income
C Granting subsidies to export producers
D Increasing import duties
E Removing export duties

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Question 4293:

Which of the following is NOT a function of marketing boards in Nigeria?

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A Fixing of prices for farm produce
B Grading of farm produce
C Importation of farm produce
D Marketing of farm produce
E Price stabilization

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Question 4294:

The trade-off between two commodities along the Production Possibility Curve (PPC) shows ____________

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A Opportunity cost principle
B Scarcity principle
C Transferable output
D Unattainable combination
E Under utilization of resources

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Question 4295:

Economic problem arises as a result of ____________

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A Choice
B Money cost
C Opportunity cost
D Scarcity
E Scale of preference

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