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Economics Past Questions and Answers

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Economics Questions

Question 4326:

Which of the following is a condition necessary

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A Few sellers and buyers
B Free entry and exist
C Homogeneous goods
D Lack of preferential treatment
E Many callers and buyers

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Question 4327:

Economics is regarded as a social science because it ____________

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A Helps people to be acceptable In the society
B Is associated with social dubs
C Is used by sociologist
D Studies human behavior
E Uses controlled experiment

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Question 4328:

If the price Index of export is 140% and import is 200%, what is ____________

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A 60
B 70
C 100
D 140
E 280

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Question 4329:

Which of the following is NOT a feature of land?

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A Free gift of nature
B Fixed in supply
C Geographically immobile
D Returns on land is wages
E Subject to law of diminishing returns

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Question 4330:

The first oil refinery in Nigeria was established at ____________

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A Alesa Eleme
B Araromi
C Kaduna
D Oloibiri
E Warri

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