Which of these statement is NOT true of economics as a discipline?
It is a social science
It is analytical
It is concerned with people's material well-being
It assumes limited human wants
It assumes limited human resources
Correct answer is D
No explanation has been provided for this answer.
The most basic concern of economists is to?
Create human wants
Satisfy all human want
Redistribute income so that it is used correctly
Create perfect competition
Study ways of allocating scarce resources in order to satisfy human wants
Correct answer is E
No explanation has been provided for this answer.
The value of industrial exports is declining
The value of industrial imports is constant
The share of agricultural exports is increasing
The share of agricultural export is decreasing
The value of mineral export is declining
Correct answer is D
No explanation has been provided for this answer.
Which of the following is NOT a visible item on international trade payment?
Payment for imported cars
Receipt from cocoa exports
Payments to foreign shipping companies
Payments for steel imports
Payment for petroleum imports
Correct answer is C
No explanation has been provided for this answer.
Prohibiting the sale of lace materials in Nigeria would probably lead to?
Increase supply of lace material in Nigeria
Production of better quality lace abroad
Lower price of lace material in Nigeria
Higher price of lace material in Nigeria
Increase income to all dealers of lace materials in Nigeria
Correct answer is D
No explanation has been provided for this answer.