An association formed by a group of individuals solely for the marketing of their product is a
Credit and thrift society
Consumer cooperative society
Producer cooperative society
Voluntary organization
Correct answer is C
No explanation has been provided for this answer.
Nigeria's exports usually comprise
Consumer goods
Capital goods
Intermediate goods
Primary goods
Correct answer is D
No explanation has been provided for this answer.
A characteristic common to partnership and sole proprietorship is
Limited liability
Accessibility to loan
Transferability of shares
Unlimited liability
Correct answer is D
No explanation has been provided for this answer.
Choice involves opportunity cost because
Goods give different utilities
Available resources are inadequate
There are many goods to select from
Not all goods have the same price
Correct answer is B
No explanation has been provided for this answer.
A decision on input combination solves the economic problem of
How to produce
For whom to produce
When to produce
What to produce
Correct answer is D
No explanation has been provided for this answer.