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.
Retailers in an economy perform the function of ______
Distribution
Exchange
Investment
Production
Correct answer is A
No explanation has been provided for this answer.
Petroleum 'glut' in international trade means_____
Higher prices for the Consumption of petroleum
An Oversupply of petroleum
A fall in in petroleum production
A higher petroleum price offered by the buyer
Correct answer is B
No explanation has been provided for this answer.
Mono production economies are those that____
Produce one main commodities
Have a rich cultural heritage
Specialize in agricultural industries
Produce only raw materials
Correct answer is A
No explanation has been provided for this answer.
Full employment is a situation in which ______
Every adult is employed
Only the disable are not employed
All adults who can work are employed
All those who are able and eligible can find employment
Correct answer is D
No explanation has been provided for this answer.
Pricing and Output decisions of sellers are highly inter-dependent in markets known as ________
Monopoly
Oligopoly
Monopolistic competition
Perfect competition
Correct answer is B
No explanation has been provided for this answer.