The Organization of Petroleum Exporting Countries (OPEC) is an example of a
Perfect competition
Monopsony
Duopoly
Cartel
Correct answer is D
No explanation has been provided for this answer.
Trade among West African countries is poor because the
Countries are self-sufficient
Communication links are weak
Number of banks is insufficient
People are not enterprising
Correct answer is B
No explanation has been provided for this answer.
It is necessary to estimate the national income of a country because it
Indicates the overrall performance of the economy
Ensure equitable distribution of wealth
Assits investors in identifying profitable ventures
Enables governments to conserve national resources
Correct answer is A
No explanation has been provided for this answer.
International trade is an application of the principle of
Industrial production
Mass production
Regional co-operation
Comparative cost advantage
Correct answer is D
No explanation has been provided for this answer.
In a socialist economy, the means of production is owned and controlled by the
State
Rich
Entrepreneur
Traders
Correct answer is A
No explanation has been provided for this answer.