Post Utme Economics Questions
Question 136:
When a firm's average revenue curve is downward sloping, its price elasticity of demand will be ____________
- A One
- B Between zero and infinity
- C Greater than one
- D Zero
Question 137:
An advantage of electronic banking is that it ____________
- A Enables a customer to operate many accounts from different locations
- B Enables many customers to operate joint accounts
- C Enables a customer to operate his account from different locations
- D Reduces the risk of bank fraud
Question 138:
The shape of the long-run average cost curve is best explained by the ____________
- A Law of diminishing returns
- B Iaw of returns to scale
- C Cost of fixed inputs
- D Cost of variable inputs
Question 139:
The main economic objective behind the production of goods and services in any economy is to ____________
- A Maximize profit
- B Satisfy human wants
- C Become self-reliant
- D Job opportunities
Question 140:
In market economic resources are allocated through the ____________
- A Government authorities
- B Price system
- C Banking system
- D Central planning bureau