Post Utme Economics Questions
Question 221:
An economic theory is a/an ____________
- A Axion
- B Hypothesis
- C Proposition
- D Tested hypothesis.
Question 222:
A situation where unlimited human wants exceed available resources leads to:
- A Economic problem
- B Consumer surplus
- C Capital formation
- D Market equilibrium
Question 223:
Goods whose demand rises when income increases are:
- A Free goods
- B Inferior goods
- C Public goods
- D Normal goods
Question 224:
In a free market economy, prices are mainly determined by:
- A Demand and supply
- B Labour unions
- C Government decree
- D Religious bodies