The remuneration of the entrepreneur as a factor of production is called
Wages
Salary
Interest
Profit
Correct answer is D
No explanation has been provided for this answer.
An economic goods is described as a good which
Yields utility and commands a price
Is useful and occupies a space
Is in high demand and transferable
Has unlimited supply
Correct answer is A
No explanation has been provided for this answer.
Olu's real cost is 150.00 Naira
Olu's opprtunity cost is the T-shirt he bought
Olu's opportunity cost is the textbook
Olu's money cost is also the real cost
Correct answer is C
No explanation has been provided for this answer.
A list of consumer's wants arranged in order of priorities is known as
A budget
An opprotuniy cost
A scale of preference
choice
Correct answer is C
No explanation has been provided for this answer.
Mixed economy refers to a system in which the means of production are controlled by
Private enterprises and the government
Private individuals
The government only
The workers and businessmen
Correct answer is A
No explanation has been provided for this answer.