Post Utme Economics Questions
Question 81:
A production possibility curve shows
- A How much of resources a society uses to produce a particular commodity
- B The rate of inflation
- C The rate of unemployment in an economy
- D The various combinations of the
commodities that can be produced - E All of the above
Question 82:
A rightward shift in the production
possibility frontier may be due to
- A Use of inferior inputs
- B Inefficiency
- C Improvement in production techniques and practices
- D Changes in the product mix
- E Changes in consumer taste
Question 83:
Direct payment incurred for producing a commodity is called ____
- A Implicit cost
- B Real cost
- C Opportunity cost
- D Due cost
- E Explicit cost
Question 84:
Diseconomies of scale can be caused by the following EXCEPT ____
- A Managerial inefficiency
- B Increased resource-cost
- C Large market
- D Inefficient business environment
- E Technology
Question 85:
Diseconomies of scale operates when
- A Doubling inputs brings about more than proportionate increase in output
- B Doubling inputs leads to a doubling of output
- C Doubling input brings about less than proportionate increase in output
- D Decrease in profit
- E Increase in revenue