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Question 1 of 15
1. Question
Which of the following best describes the production function?
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Question 2 of 15
2. Question
Given perfect competition in the capital market, the opportunity cost of capital is adequate reflected by the
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Question 3 of 15
3. Question
Which of the following reward is associated with entrepreneurship as a factor of production?
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Question 4 of 15
4. Question
In a market economy, the question of, what, how and for whom to produce are solved by the
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Question 5 of 15
5. Question
At the given level of output, a firm’s total variable cost equals
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Question 6 of 15
6. Question
Age groups (years)Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Distribution (%)
Above 60Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â 30
15-60Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â 45
0-14Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â 25
The estimated dependency ratio of the population shown above is
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Question 7 of 15
7. Question
Which of the following factors is NOT responsible for the rural/urban drift in Nigeria?
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Question 8 of 15
8. Question
The necessity of choice is due to the fact that
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Question 9 of 15
9. Question
What is meant by LABOUR SUPPLY?
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Question 10 of 15
10. Question
Any payment to a factor of production in excess of what is necessary to keep its present employment is known as
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Question 11 of 15
11. Question
The market where there are many differentiated products is called
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Question 12 of 15
12. Question
One of the dangers of localization of industries is
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Question 13 of 15
13. Question
In commercial banking, an account from which a customer cannot withdraw money instantly is a
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Question 14 of 15
14. Question
Banks can create more money by
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Question 15 of 15
15. Question
The most important factor in ensuring economic development is the
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