Marginal cost
Inferior item
Opportunity cost
Supplementary item
Prime cost
Correct answer is C
No explanation has been provided for this answer.
Which of the following is not a problem of distribution of goods in Nigeria?
Poor communication network
Inadequate storage facilities
Ignorance of consumers
Dishonesty of middlemen
Inadequate market
Correct answer is C
No explanation has been provided for this answer.
One of the function of a commercial bank is that it
Is responsible for formulating monetary policies
Accepts demand and time deposits from customers
Is the lender of the last resort
Is the banker of the government
Is responsible for issuing currency notes
Correct answer is B
No explanation has been provided for this answer.
The difference between the Gross Domestic Product (GDP) and the Gross National Product (GNP) is the
Allowance for total depreciation
Total interest payment
Net income from abroad
Total tax and interest payment
Net internally generated income
Correct answer is C
No explanation has been provided for this answer.
The decision to consume more of one product will under normal circumstances imply that
More of another product will be consumed
Less of something else will be consumed
No other product will be consumed
Decision-making is basic in economics
Enough resources are available
Correct answer is B
No explanation has been provided for this answer.