External economies refer to the
Cost-saving advantage a firm enjoys when by being close to other firm in the same industry
Disadvantage to a firm that is close to other firms
Economies of large scale production
Economies of low scale production
Artificial scarcity of goods
Correct answer is A
No explanation has been provided for this answer.
Real cost and money cost
Price and taxes
Fixed cost and variable cost
Average cost and marginal cost
Cost of raw materials and wages
Correct answer is C
No explanation has been provided for this answer.
The introduction of division of labour in a firm will lead to
A fall in output
A decline in the efficiency of labour
An increase output
The separation of ownership from management
An increase in unit cost
Correct answer is C
No explanation has been provided for this answer.
The equilibrium price of mango is N1.00. If the price fall to 50k, there will be
An excess demand
An excess supply
A surplus in the market
Many sellers in the market
No seller in the market
Correct answer is A
No explanation has been provided for this answer.
An exceptional demand is one in which
Supplier sells all that he takes to the market
Consumers do not buy from the market
Quantity demanded falls as price falls
Purchase of services and not products is considered
Quantity demanded and price moves in opposite direction
Correct answer is C
No explanation has been provided for this answer.