Economics Questions and Answers
Economics questions and answers to help you prepare for JAMB, WAEC, NECO, Post UTME and job aptitude tests or interviews.
Economics questions and answers to help you prepare for JAMB, WAEC, NECO, Post UTME and job aptitude tests or interviews.
An Improvement in capital goods technology but not In consumer goods technology
A movement from unemployment to full employment
That the output for the society has declined
A gain in consumer goods technique and not in capital goods technique
Correct answer is B
No explanation has been provided for this answer.
The mean is the best measure of central tendency because it__________
Can be calculated from incomplete data
Is a balancing point in an observation
Is a midpoint value in an array of data
Is not affected by extreme values in a data
Correct answer is C
The mean is the most frequently used measure of central tendency because it uses all values in the data set to give you an average.
The privatization exercise in Nigeria is a move towards a___________
Command economy
Mixed economy
Subsistence economy
Market economy
Correct answer is D
No explanation has been provided for this answer.
The need to construct a scale of preference is necessitated by____________
Scarcity and the need for choice
The needs to satisfy wants
Non-availability of factors of production
Scarcity of resources
Correct answer is A
No explanation has been provided for this answer.
In a developing economy, productivity is measured by the___________
Output - labour ratio
Capital - output ratio
Output growth rate
Output per capital
Correct answer is C
No explanation has been provided for this answer.