*1. The residual of production which acquires to the ownership of loans
after all other expenses have been met is called ___*
*Answer: Rent*
*2. The downturn in the price of shares on stock markets is a highlight or
___*
*Answer: The regulatory nature of the market*
*3. What is the effect of decrease in supply where demand is constant?*
*Answer: Increase in price, decrease in quantity.*
*4. To control inflation, the monetary authority of a company can ___*
*Answer: Engage in a restrictive monetary policy.
*5. Natural growth rate can be calculated by?*
*Answer: Natural growth rate = Death rate + Net immigration*
*6. In the analysis of utility theory, the basic of demand is ___
Answer: *Diminishing utility*
*7. In the money market, money can only be borrowed for ___*
*Answer: Short term*
*8. The consumers co-operative society is owned by*
*Answer: Members of the society
*9. Find the median of the following set of score, 8,9,6,5,10*
*Answer: Median is the middle number after all the numbers are
arranged in ascending or descending order.* *(Arranging, we have
5,6,8,9,10.* *Therefore, the media in 8*
*10. In a public company, entrepreneurship functions are performed by
the ___*
*Answer: Board of directors
*11. One major export crop in West Africa is ____
Answer: Cocoa*
*12. expresses relationship between the dependent and
independent variable.*
*Answer: Functions*
*13. Macroeconomics was made popular by*
*Answer: John M. Kaynes*
*14. Distribution of goods and services is hindered by ____*
*Answer: Too many middlemen (and other factors).*
*15. Census of population is usually conducted every ___*
*Answer: 10 years*
*16. Which bank is known as post office bank?
Answer: Merchant Bank*
*17. A firm s main aim is to*
*Answer: Maximise profits*
*18. In a socialist economy, factors of production are owned and
controlled by the*
*Answer: Government.*
*19. The market where buyer and sellers of currency meet is known as*
*Answer: Foreign exchange market*
*20. Taxes which are levied on a* *person s expenditure are known as*
*Answer: Purchase tax
*21. The additional revenue obtained by using one more unit of a factor
is called* ___
*Answer: Marginal Revenue product
*22. A firm s compulsory cost is referred to as its*
*Answer: Fixed Cost*
*23. The assumption of economic analysis are .. and ..*
*Answer: Rationally and other things being equal*
*24. A firm is at its optimum size when*
*Answer: It produces the greatest output at the minimum.*
*25. When a variable is associated with time period, it is?*
*Answer: A flow*
*26. The full meaning of OPEC is*
*Answer: Organization of Petroleum exporting countries.
*27. State-owned enterprises are more common in____
Answer: Centrally planned economies*
*28. Commercial banks are example of___
Answer: joint stock banks*
*29. Efficiency of labour is enhanced by Improved____
Answer: working condition and training*
*30. The production strategy used in over populated country is__
Answer: Labour intensive.*
*31. Internal trade has general effect on .. of a country.
*Answer: GDP*
*32. West African economies can be described as?*
*Answer: Agricultural.
*33. The headquarters of the African Development Bank (ADB) was
originally located in____
Answer: Abidjan*
*34. .. is the measurement of* *steepness of the line or curve that
emerges on the graph.*
*Answer: Slope*
*35. Banks create money by*
*Answer: Lending out deposits to borrowers*
*36. The situation whereby government revenue is less than government
expenditure is referred to as*
*Answer: Budget deficit*
*37. .. and . of goods and factors of production brought the
existence of price*
*Answer: Scarcity and usefulness*
*38. The most common form of* *business in West Africa is the*
*Answer: Sole proprietorship*
*39. The terms of trade simply mean the price ratio of*
*Answer: export to import.*
*40. The tax imposed on goods produced within the country is
Answer: excise tax
NOTE:
1. YOUR NUMBER TEN(10) QUESTION CAN BE YOUR
BROTHER S NUMBER TWENTY-FIVE {25} QUESTION.
2. DON T SPREAD THIS QUESTIONS AND ANSWERS TO
ANYONE.
Name: examplaza.com
Founded: 2010 (14 years)
Founder: Mr. Onuwa
Headquarters: Borno, Nigeria
Official Website: https://examplaza.com/
Official Contact: +2348108515604
Tags: