The law of Diminishing Returns begins to operate when
Total product begins to rise
Total product begins to fall
Marginal product begins to fall
Marginal product begins to rise
Correct answer is C
No explanation has been provided for this answer.
Which of the following BEST describes the production function?
It indicates best output to produce
It relates naira inputs to naira output
It relates physical outputs to physical inputs
It indicates the best way to combine factors to produce given output
Correct answer is C
No explanation has been provided for this answer.
Development outside a given firm which reduce the firm costs are called
Internal economies
External economies
External diseconomies
Optimum effects
Correct answer is B
No explanation has been provided for this answer.
The demand for money is inversely related to the rate of interest
Investment is directly related to the rate of interest
Investment is not related to the rate of interest to the rate of interest
The demand for money is directly related to the rate of interest
Correct answer is D
No explanation has been provided for this answer.
The main reason for charging interest is to
Reward entrepreneurial effort
Redistribute profits
Reward investors for present use of profits
Mobilize more funds for development
Correct answer is C
No explanation has been provided for this answer.