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 petro-chemical industries are located in Rivers State of Nigeria due to _______
Coal deposit
Palm oil products
Favourable soil
Oil deposits
Correct answer is D
No explanation has been provided for this answer.
100 days
30 days
90 days
14 days
Correct answer is C
No explanation has been provided for this answer.
A firm is at its optimum size when __________
It has a motive to increase output
It produces the greatest output at a minimum cost
Marginal cost equals marginal revenue
Marginal cost is less than marginal revenue
Correct answer is B
No explanation has been provided for this answer.
The exploitation of mineral resources constitutes which form of production?
Primary production
Secondary production
Tertiary production
Services production
Correct answer is A
Primary production involves the exploration and extraction of raw materials.
Each member operates its own barriers against non-members
Factors of production are mobile
Members adopt a common external tariff against non- members
Members adopt common fiscal and economic policies
Correct answer is B
Free trade is a trade policy where goods and services can be bought and sold across international borders with little or no government tariffs, quotas, subsidies.