A rightward shift in the production possibility frontier may be due to
Use of inferior inputs
Inefficiency
Improvement in production techniques and practices
Changes in the product mix
Changes in consumer's tastes and preferences
Correct answer is C
No explanation has been provided for this answer.
One of the advantages of large - scale production is that
There is a rise in the cost of administration
Consumers sacrifice their individual tastes
The firm can use labour - saving machinery
The demand for a firm's products become localized
Decision making takes a long time because different levels of management are involved
Correct answer is C
No explanation has been provided for this answer.
If a person demands money for buying and selling securities. It is referred as demanding money for
Transaction purposes
Speculative purposes
Precautionary purposes
Meeting the educational expenses of the children
Carrying out gambling activities
Correct answer is B
No explanation has been provided for this answer.
An improvement in Nigeria's terms of trade should
Lead to a fall in cost of her imports in terms of what she must sacrifice to obtain them
Make made in Nigeria goods cheaper to buy
Increase Nigeria's domestic output of commodities
Lead to an increase in her exchange rates
Lead to an increase in Nigeria's exports of petroleum
Correct answer is A
No explanation has been provided for this answer.
Complete dependence on oil exports
Concentration on agricultural exports
Diversification of the economy
Building of more schools and universities
Introduction of nuclear energy in Nigeria
Correct answer is C
No explanation has been provided for this answer.