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.
The value of money depends primarily on ________
The gold backing of the currency
The general price level
Government decree that it is legal tender
None of the above
Correct answer is B
No explanation has been provided for this answer.
Division of Labour is limited by the_______
Size of labour firm
Availability of raw material
Size of the labour force
Absolute size of the country's population
Correct answer is C
No explanation has been provided for this answer.
In Nigeria, cheques are not money because________
Most Nigerians cannot identity them
They are not legal tender
There are no banks in rural areas
They are not generally acceptable as a medium of exchange
Correct answer is B
No explanation has been provided for this answer.
Money becomes a very poor store of value in a period of ______
Harvest
Deflation
Recession
Inflation
Correct answer is D
No explanation has been provided for this answer.
Economics may be defined as _______
The study of human behaviour in the allocation of scarce resources
The study of money and banking
The study of markets and prices
The study of production and distribution
Correct answer is A
No explanation has been provided for this answer.