Post Utme Economics Questions
Question 121:
The act of combining factor inputs in order to obtain specific output is known as ____________
- A Factor procurement
- B Manufacturing
- C Investment
- D Industrialisation
- E Production
Question 122:
International trade is necessary because ____________
- A No country can live in economic isolation
- B Different countries are differently endowed in natural and man-made resources
- C Some countries have comparative cost advantage in the production of particular commodities over other countries
- D The world demand for and supply of various categories of commodities is expanding
- E Countries want to build up their foreign exchange reserve
Question 123:
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 consumers' tastes and preferences
Question 124:
Which of the following does NOT represent the behaviour of a monopolist?
- A Manipulating the market price of his goods
- B Manipulating both the price and quantity of his goods at the same time
- C Raising the price at one market, lowering it at another market
- D Manipulating only quantity, price being a given factor
- E Manipulating the quality of his goods
Question 125:
A corporation can obtain funds by issuing bonds. A bond is a form of debt which falls die to repayment after ____________
- A 6 months
- B 9 months
- C 2 years
- D 5 years
- E 10 or more years