Scarcity in economics means?

Economics is often described as a social science because?

Which of the following is an example of an invisible item on the balance
of payments account

A major factor affecting the value of money is the?

The Nigerian bank for commerce and industry is?

To control inflation, the monetary authorities of a country can

To control inflation, the monetary authorities of a country can

Which of the following is used by the central bank to control the rate of
interest

The Nigerian bank for commerce and industry is?

What form of market is found in an imperfect competition where there
are few buyers and many sellers

A budget with a projected revenue in excess of its expenditure is said to
be?

In order to raise more revenue for a certain period, the government
should impose higher taxes on goods whose demands are___

If aggregate income is N500.00 and aggregate consumption is
N400.00, this means that the average propensity to consume is?

The group of unemployed members of a community who are physically
handicapped or disable, is generally classified under unemployment

as?

Collectivism refers to the management of state enterprises in a?

Efficiency in production means?

In economic life, the choice among alternatives depends on the?

The law of diminishing marginal utility indicates that if a consumer
increases his consumption of a commodity continously

Which of the following rewards is associated with entrepreneurship

Which of the following is likely to be inflationary

The relationship between the tax rate and income which is relevant to
progressive tax is shown by?

The relationship between tax rate and income which is relevant to a
proportional tax is depicted by?

Fiduciary issue is that part of?

The type of business finances that entitles the holder to a fixed rate of
dividend is?

A company’s expenditure on raw materials is regarded as?

Firms are often set up close to each other in order to take advantage of?

A situation in which a commodity is sold abroad below its cost of
production in the home country is known as?

The problem of conducting census include

The factor of production that has the highest degree of mobility is?

In recent times, agriculture in Nigeria tends to lose its vital labour force
as a result of?

The most important goal of OPEC is to?

Plywood industries are often located near the source of?

When a country’s population is experiencing increasing returns, that
country is said to be?

The most important attribute of money is?

The use of legally permissible means to reduce tax liabilities is known
as tax?

The Economic Commission for Africa was set up by the?

One of the techniques of monetary control used by the central bank of
Nigeria is

Crude petroleum is a good example of a

A major effect of a long distribution chain is

One of the major criticism of the 1962 -1968 National Development
Plan was that?

Utility is the satisfaction derived from?

Economic growth is different from economic development because
economic growth

A demand which gives rise to the reverse of the law of demand
is__________

If two commodities are unrelated, a change in the price of one
will____________

In a perfect competition, the market price is determined by_______

In the short-run, the monopoly makes_______

The demand curve facing the monopolist in the foreign market
is__________

Supply is________

A rise in the supply of a commodity cause__________

an increase in the equilibrium price and decrease in the equilibrium
quantity bought and sold

An economy in which the whole income is not consumed is referred to
as______

The arithmetic mean of 5, 8, 10, 15, 24 and 28 is_______

The arithmetic mean of 5, 8, 10, 15, 24 and 28 is_______

A method of analysis that draws conclusions from data rather than
general Principles already known is________

The money market equilibrium is defined as_________

An economic condition in which much reduced economic activity co-
exists with inflation is referred to as__________

An Instrument used by the central bank to fix commercial and merchant
banks total credit to domestic economy is________

Restrictive monetary policy is designed to curtail aggregate demand
and to overcome________

The average curve and the marginal curve are U-shaped in the short-
run and flatter in the long-run due to________

The most important cost curve for the firm is_________

In the case of highly or close complementary goods, the indifference
curve is_______

One of these is not an assumption of the cardinalist theory of utility?

The shape of the production possibility frontier is determined by
the_________

As indifference curve shows equal level of satisfaction at all points, An
isoquant shows equal level of_________

Which of the following is not a cause of unemployment_______

The demand for labour is a________

The use of government income and expenditure instrument to regulate
the economy is termed______

A form of tax that is midly progressive and regressive is_______

Industrialization is the process of___________

One of these is not a way by which government encourage
industrialization?

One of these is not a way by which government encourage
industrialization?

The sector which contribute highly to the economy is___________

A permit that allows an importer to bring a certain quantity of foreign
goods into a country is_________

The lands that belong to the community is referred to as__________

Among the disadvantages of the one-man business is the fact
that______

The most reliable and acceptable index of economic growth is
the__________

The release of a liquid petroleum hydrocarbon into the environment
is_______

ECOWAS was formed for the purpose of________

Economics is a social science concerned with the proper use
and______

The determination of price by bargaining between buyers and sellers
is________

An economy system that uses what is regarded as the “Market
mechanism” is called_______

The last link in the channel of distribution is____________

John an apprentice, engineer and amateur trumpet player, was earning
₦30 per week before accepting Full-time employment in a top
orchestra, for which he now receives ₦150 per week. ₦120 of his
current weekly earnings can be described as________

Effective demand for a commodity is desire for that commodity backed
by_______

A commodity is defined as normal when its demand changes in the
same direction as______

Which of the following matters may account for changes in demand?

I – changes in consumer preferences
II – changes in real income
III – changes in distribution of incomes
IV – changes in levels of taxation

An example of a market which approaches fairly near to perfection
is____________

Whether a monopolist is able to increase his revenue by restricting his
output depends on the shape of the_________

An example of a vertical combination is the merger of_________

When of the following matters may account for changes in supply?

I – technological advances in an industry
II – changes in labour costs
III – changes in source of supply
IV – changes in levels of taxation

A supply curve slopes upwards from the left to the right
indicating__________

Scarcity in economics means?

Economics is often described as a social science because?

Which of the following is an example of an invisible item on the balance
of payments account

A major factor affecting the value of money is the?

The Nigerian bank for commerce and industry is?

To control inflation, the monetary authorities of a country can

To control inflation, the monetary authorities of a country can

Which of the following is used by the central bank to control the rate of
interest

The Nigerian bank for commerce and industry is?

What form of market is found in an imperfect competition where there
are few buyers and many sellers

A budget with a projected revenue in excess of its expenditure is said to
be?

In order to raise more revenue for a certain period, the government
should impose higher taxes on goods whose demands are___

If aggregate income is N500.00 and aggregate consumption is
N400.00, this means that the average propensity to consume is?

The group of unemployed members of a community who are physically
handicapped or disable, is generally classified under unemployment

as?

Collectivism refers to the management of state enterprises in a?

Efficiency in production means?

In economic life, the choice among alternatives depends on the?

The law of diminishing marginal utility indicates that if a consumer
increases his consumption of a commodity continously

Which of the following rewards is associated with entrepreneurship

Which of the following is likely to be inflationary

The relationship between the tax rate and income which is relevant to
progressive tax is shown by?

The relationship between tax rate and income which is relevant to a
proportional tax is depicted by?

Fiduciary issue is that part of?

The type of business finances that entitles the holder to a fixed rate of
dividend is?

A company’s expenditure on raw materials is regarded as?

Firms are often set up close to each other in order to take advantage of?

A situation in which a commodity is sold abroad below its cost of
production in the home country is known as?

The problem of conducting census include

The factor of production that has the highest degree of mobility is?

In recent times, agriculture in Nigeria tends to lose its vital labour force
as a result of?

The most important goal of OPEC is to?

Plywood industries are often located near the source of?

When a country’s population is experiencing increasing returns, that
country is said to be?

The most important attribute of money is?

The use of legally permissible means to reduce tax liabilities is known
as tax?

The Economic Commission for Africa was set up by the?

One of the techniques of monetary control used by the central bank of
Nigeria is

Crude petroleum is a good example of a

A major effect of a long distribution chain is

One of the major criticism of the 1962 -1968 National Development
Plan was that?

Utility is the satisfaction derived from?

Economic growth is different from economic development because
economic growth

A demand which gives rise to the reverse of the law of demand
is__________

If two commodities are unrelated, a change in the price of one
will____________

In a perfect competition, the market price is determined by_______

In the short-run, the monopoly makes_______

The demand curve facing the monopolist in the foreign market
is__________

Supply is________

A rise in the supply of a commodity cause__________

an increase in the equilibrium price and decrease in the equilibrium
quantity bought and sold

An economy in which the whole income is not consumed is referred to
as______

The arithmetic mean of 5, 8, 10, 15, 24 and 28 is_______

The arithmetic mean of 5, 8, 10, 15, 24 and 28 is_______

A method of analysis that draws conclusions from data rather than
general Principles already known is________

The money market equilibrium is defined as_________

An economic condition in which much reduced economic activity co-
exists with inflation is referred to as__________

An Instrument used by the central bank to fix commercial and merchant
banks total credit to domestic economy is________

Restrictive monetary policy is designed to curtail aggregate demand
and to overcome________

The average curve and the marginal curve are U-shaped in the short-
run and flatter in the long-run due to________

The most important cost curve for the firm is_________

In the case of highly or close complementary goods, the indifference
curve is_______

One of these is not an assumption of the cardinalist theory of utility?

The shape of the production possibility frontier is determined by
the_________

As indifference curve shows equal level of satisfaction at all points, An
isoquant shows equal level of_________

Which of the following is not a cause of unemployment_______

The demand for labour is a________

The use of government income and expenditure instrument to regulate
the economy is termed______

A form of tax that is midly progressive and regressive is_______

Industrialization is the process of___________

One of these is not a way by which government encourage
industrialization?

One of these is not a way by which government encourage
industrialization?

The sector which contribute highly to the economy is___________

A permit that allows an importer to bring a certain quantity of foreign
goods into a country is_________

The lands that belong to the community is referred to as__________

Among the disadvantages of the one-man business is the fact
that______

The most reliable and acceptable index of economic growth is
the__________

The release of a liquid petroleum hydrocarbon into the environment
is_______

ECOWAS was formed for the purpose of________

Economics is a social science concerned with the proper use
and______

The determination of price by bargaining between buyers and sellers
is________

An economy system that uses what is regarded as the “Market
mechanism” is called_______

The last link in the channel of distribution is____________

John an apprentice, engineer and amateur trumpet player, was earning
₦30 per week before accepting Full-time employment in a top
orchestra, for which he now receives ₦150 per week. ₦120 of his
current weekly earnings can be described as________

Effective demand for a commodity is desire for that commodity backed
by_______

A commodity is defined as normal when its demand changes in the
same direction as______

Which of the following matters may account for changes in demand?

I – changes in consumer preferences
II – changes in real income
III – changes in distribution of incomes
IV – changes in levels of taxation

An example of a market which approaches fairly near to perfection
is____________

Whether a monopolist is able to increase his revenue by restricting his
output depends on the shape of the_________

An example of a vertical combination is the merger of_________

When of the following matters may account for changes in supply?

I – technological advances in an industry
II – changes in labour costs
III – changes in source of supply
IV – changes in levels of taxation

A supply curve slopes upwards from the left to the right
indicating__________