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Economics Past Questions and Answers

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Economics Questions

Question 4921:

A functional organizational structure is where

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A Staff performing similar functions are grouped together.
B Departments performing similar functions are grouped together
C Activities of similar nature are grouped together
D Staff performing the same functions are grouped together

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Question 4922:

An increase in the demand for pen raises the demand for ink. This type of demand is called:

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A Composite demand
B Complementary demand
C Derived demand
D Competitive demand

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Question 4923:

Which of the following causes the demand curve to shift to the right?

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A The availability of substitutes
B A reduction in the size of population
C An increase in the income of the buyer
D A decrease in price of the good

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Question 4924:

Retailers in an economy perform the function of

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A Distribution
B Investment
C Production
D Exchange
E Hoarding

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Question 4925:

In Ekiti State, the demand curve for rice in every household is downward sloping because:

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A Every household has access to the market
B There is excess supply
C The higher the price of rice, the lower the quantity of rice to be demanded
D Rice is produced in the state

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