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.
One way of obtaining the median of a given data is to_________
Sum the value and divide by the number of items
Arrange the data in ascending order and subtract each item from the mean
Arrange the data in descending order and add each item to the least
Arrange the data in either ascending or descending order and find what item divides the set in two equal parts
Correct answer is D
To find the median, first order the numbers from smallest to largest. Then find the middle number. For example, the middle for this set of numbers is 5, because 5 is right in the middle: 1, 2, 3, 5, 6, 7, 9.
A government distribution agencies
The operation of price mechanism
A central planning committee
Retailers only
Correct answer is B
No explanation has been provided for this answer.
The distinguishing function of an entrepreneur is_______
Planning
Control
Risk-bearing
Management
Correct answer is C
No explanation has been provided for this answer.
Dress
Jewelry
Handbag and Jewelry
Dress and Jewelry
Correct answer is C
No explanation has been provided for this answer.
The study of economics is Important to every society because it______
Enables individuals to satisfy all their wants
Helps in the utilization of scarce resources
Helps producers to know what to produce
Restores equilibrium between producers and consumers
Correct answer is B
No explanation has been provided for this answer.