Economics is the study of how societies allocate limited resources to meet the unlimited needs and wants of individuals. It focuses on the production of goods and services, economic growth, and various complex issues that are important to society.
-
Question 381:
Efficiency of labour in a country is determined by the following except the____________
Options:
A) Social attitude to work
B) Education and training
C) Total population
D) Working conditions of workers
Show Answer
The correct answer is C .
-
Question 382:
The curve labelled x is the
Options:
A) total revenue curve
B) total product curve
C) marginal product curve
D) marginal revenue curve
Show Answer
The correct answer is B .
-
Question 383: The bowed shape of the Production possibilities curve illustrates _________
Options:
A) that production is inefficient
B) that demand is relatively inelastic
C) that production is unattainable
D) the law of increasing marginal cost
Show Answer
The correct answer is A .
-
Question 384: The basic principle of cooperative societies is to ________
Options:
A) maintain the integrity of their members
B) protect the interest and pursue the welfare of members
C) ensure better working conditions for members
D) provide voluntary services to the members
Show Answer
The correct answer is B .
-
Question 385: In national income accounts, an item counted as part of government spending is
Options:
A) salaries and wages
B) pension
C) scholarship
D) social welfare
Show Answer
The correct answer is D .
-
Question 386:
What is the median of the distribution?
Options:
A) 5
B) 4
C) 3
D) 2
Show Answer
The correct answer is C .
-
Question 387:
Increasing national income without effective control of population size in a country can lead to
Options:
A) higher per capita income
B) increase in poverty
C) increased outflow of aid
D) underutilization of resources
Show Answer
The correct answer is D .
-
Question 388: To facilitate the exportation of crude oil from Nigeria, special?
Options:
A) airstrips were constructed for jets to evacute the oil
B) roads were built to connect the major oil wells to the ports
C) pipelines were laid to connect the major oil wellsto the ports
D) railway lines were constructed to connect the major oil wells to the ports
Show Answer
The correct answer is C .
-
Question 389:
Wholesalers play an important in the distribution of goods and services because they
Options:
A) are located very close to consumers
B) finance both producers and retailers
C) pass information on from retailers to consumers
D) sell in small units to consumers
Show Answer
The correct answer is B .
-
Question 390:
Gross National Product (GNP) less the provision for the wear and tear of assets is the
Options:
A) net present value
B) net national product
C) net factor income
D) net indirect taxes
Show Answer
The correct answer is B .