The best method of production in an under populated country is
Labour-extensive
Land-intensive
Capital-intensive
Labour-intensive
Correct answer is C
No explanation has been provided for this answer.
Entrepreneur is associated more with
Capital management
Production of beverage
Profit making
Profit sharing
Risk bearing
Correct answer is E
No explanation has been provided for this answer.
Which of the following is a determinant of elasticity of supply?
Consumer’s income
Degree of necessities
Durability of the product
Number of uses of the commodity
Proportion of income spent on the product
Correct answer is C
No explanation has been provided for this answer.
When the value of a country’s export exceeds her imports, there will be a
Deficit current account
Excess visible imports only
Favourable balance of trade
Favourable capital account
Surplus current account
Correct answer is C
A favorable balance of trade occurs when a country's value of commodity exports exceeds the value of commodity imports.
Using Expenditure Approach to estimate National Income, Y is equal to
C + l + G + X – M + P - V
C + l + G + X – M + P
C + l + G – X + P
C – 1 + G + X – M + P
C + l – G + X – M – P
Correct answer is D
No explanation has been provided for this answer.
These are the objectives of industrial strategies in Nigeria EXCEPT
Industrial financing
Maximization of local value added
Promotion of export oriented industries
Promotion of import oriented industries
Provision of economic and social infrastructures
Correct answer is B
No explanation has been provided for this answer.
The first National development plan period was from
1955-1959
1962-1968
1965-1970
1970-1974
1975-1980
Correct answer is B
No explanation has been provided for this answer.
The correct relationship between income (Y), consumption (C) and savings (S) is
C = Y + S
S = Y + C
S = Y + S
Y = C + S
Y = C – S
Correct answer is D
No explanation has been provided for this answer.
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