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 711: A company is said to be highly geared if the?
Options:
A) value of fixed interest loans is high compared with share capital
B) Value of shared capital is high compared with fixed interest loans
C) dividend rate is high
D) interest rate is high
Show Answer
The correct answer is A .
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Question 712:
If the curve above shows the relationship between the price of commodity X and the quantity demanded of commodity Y then X and Y are
Options:
A) complementary goods
B) substitutes
C) inferior goods
D) luxury goods
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The correct answer is B .
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Question 713: Which of the following combinations is a veritable set of development indicators?
Options:
A) Growth of governemnt expenditure and imports
B) Growth of population and national income
C) High fertility, literacy and school enrolment rates
D) Low infant mortality and high per capital income and literacy rates
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The correct answer is D .
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Question 714: If 502.75 million tonnes of grains are consumed annually by a population of 88.5 million people, the per capita grains consumption will be?
Options:
A) 6.00 tonnes
B) 5.68 tonnes
C) 0.60 ton
D) 0.57 ton
Show Answer
The correct answer is B .
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Question 715: Frictional unemployment?
Options:
A) is total unemployment minus structural unemployment
B) occurs when the unemployed are persons with specific training
C) occurs when the number of job seekers exceeds the number of vacancies
D) occurs when people are changing jobs
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The correct answer is D .
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Question 716: An increase in the marginal cost of production causes
Options:
A) A downward movement along the supply curve
B) A leftward shift of the supply curve
C) A rightward shift of the supply curve
D) An upward movement along the supply curve
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The correct answer is D .
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Question 717: The major problem of cooperative societies in Nigeria is that?
Options:
A) they often lack cohersion and continuity
B) their liability is unlimited to members
C) voting is by proxy
D) their management style is poor
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The correct answer is D .
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Question 718: Which of the business organization listed below is characterized by limited authority and liability of the individual owners?
Options:
A) Sole properitorship
B) Partnership
C) Joint stock company
D) Co-operative society
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The correct answer is C .
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Question 719: Government intervention in an economy is often justified on the group that?
Options:
A) wants are unlimited while resources are scarce
B) productivity is higher in the public than in the private sector
C) free market may not work, or produce desirable results
D) opportunity cost of government expenditure is zero
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The correct answer is A .
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Question 720: A country has a surplus in its balance of visible trade if
Options:
A) the value of imports exceeds the value of exports of goods
B) the value of exports exceeds the value of import of goods
C) the value of goods exported is equal to the value of goods imported
D) it is able to spend a lot on capital programmes
E) commercial banks assets increase
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The correct answer is B .