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.
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Question 391: Which of the following is the major function of the wholesaler?
Options:
A) Bulk breaking
B) Provision of useful information to th manufacturer on products
C) Provision of after-sales services to consumers
D) Provision of warehouse facility
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The correct answer is A .
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Question 392: Which of the taxes appear generally progressive in nature?
Options:
A) Sales taxes
B) The personal income tax
C) Property taxes
D) Corporation taxes
E) none of the above
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The correct answer is B .
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Question 393: If budget deficits are financed by borrowing the crowing-out effect can be offset by an increase in
Options:
A) government expenditure
B) savings
C) interest rates
D) exchange rates
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The correct answer is D .
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Question 394: Localization of industries refers to the
Options:
A) spread of firms producing different products
B) siting of industries near the market
C) concentration of firms of an industry
D) siting of firms producing different products
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The correct answer is C .
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Question 395: Which of the following is a direct tax?
Options:
A) Sales tax
B) Purchase tax
C) Export duties
D) property tax
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The correct answer is D .
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Question 396: A firm operating at full capacity will have a
Options:
A) perfectly inelastic supply curve
B) perfectly elastic supply curve
C) fairly elastic supply curve
D) fairly inelastic supply curve
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The correct answer is A .
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Question 397: Occupational distribution of population determines the
Options:
A) size of a population available and willing to work
B) population density of a place
C) dependency ratio of a country
D) size and categories of the labour force
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The correct answer is D .
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Question 398:
Agriculture accounts for about 60% of the
Options:
A) commodity market in West Africa
B) arable land in West Africa
C) active labour force in West Africa
D) service sector activities in West Africa
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The correct answer is C .
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Question 399: some of major problems hindering economic development in west Africa are in the areas of electricity supply, communication, educations and health. These items are known in Economics as?
Options:
A) development projects
B) infrastructural facilities
C) monoculture
D) capital investment
E) superstructure
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The correct answer is B .
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Question 400: The major reason for the survival of small shops despite competition from large business enterprises is because of?
Options:
A) the small capital outlay involved
B) regularity and constant supply of commodities by them
C) their local srvices and longer hours of operation
D) their level of managerial competence
Show Answer
The correct answer is C .