Red, blue and green
Cyan, magenta and yellow
Black, blue and green
None of these colours
Correct answer is A
Primary colours of light are red, blue and green
Secondary colours of light are cyan, magenta and yellow
Petroleum has the following positive contributions to the Nigerian economy except
Generate employment
Source of government revenue
Development of mono economy
Infrastructure development
Correct answer is C
Oil production brings about a billion investments in the country's economy as well as the development of related sectors of the economy and infrastructure. Besides, it supplies new jobs for Nigerian citizens and improvement of social and living standards in general.
The tax levied on locally produced goods is
Import duty
Excise duty
Company tax
Value added tax
Correct answer is B
A tax percentage levied on manufactured, sale, or use of locally produced goods (such as alcoholic drinks or tobacco products).
The source of all economic problems arises from
Wants
Scarcity
Opportunity cost
Scale of preference
Correct answer is B
Scarcity refers to the basic economic problem, the gap between limited – that is, scarce – resources and theoretically limitless wants. This situation requires people to make decisions about how to allocate resources efficiently, in order to satisfy basic needs and as many additional wants as possible.
A commercial bank can create money by
Issuing currency
Increasing cash ratio
Issuing cheque
Lending to borrowers
Correct answer is D
Lending to borrowers in form of loan with an interest rate makes the commercial bank to create more money.