Search SchoolNGR

Economics Past Questions and Answers

Classroom

Economics Questions

Question 426:

In order to build up its capital stock, the typical less developed country should ideally

SchoolNGR Classroom

A Increase total saving
B Depend on hand-out from foreigners
C Impose tariff on import
D Nationalise all foreign concern
E None of the above

View Answer & Explanation

Question 427:

The advantage of sole proprietorship is as follow

SchoolNGR Classroom

A It is always successful
B Continuity is no problem
C Control and supervision is under one man
D Funds are easy to obtain
E Inter-generational equity is assured

View Answer & Explanation

Question 428:

Which of these should determine, in a planned economy how the factor of production are to be allocated among different production activities

SchoolNGR Classroom

A Fairness
B The distribution of income and wealth
C Public need which is determined by the government
D Private needs determined by the market
E The ability of individual to make profit

View Answer & Explanation

Question 429:

Which of the following activities of government precludes the existence of a market economy?

SchoolNGR Classroom

A The imposition of taxes
B The control of the location of industry
C The central planning of production
D The fixing of maximum price for all necessities
E The establishment of law requiring the registration of business firms

View Answer & Explanation

Question 430:

Which of the following is NOT strictly included In the study of economics?

SchoolNGR Classroom

A The study of wants
B The study of choice
C Whether a particular want satisfies a good or bad purpose
D The study of scarcity
E The study of substitution

View Answer & Explanation

Stay Updated

Follow us on:

Subjects