Which of the following factor is not important in deciding the location of an industry?
The native language of the people
Availabilty of suitable labour
Source of cheap power and raw materials
Proximity to the location of a similar industry
Proximity to the market
Correct answer is A
No explanation has been provided for this answer.
A firm is said to be a Public Joint-Stock Company when it
Is owned by the government
Operates as a public corporation
Is a limited liability company
Sells its shares to members of the public
Is administered by the public
Correct answer is D
No explanation has been provided for this answer.
Which of the following reasons explains the upward sloping of supply curve in a competitive market?
Ceteris paribus, marginal cost increase as output increases
As new firms enter the market, factor price moves up
Firms are in business to satisfy consumers
Marginal cost often increases in a competitive market
Firms are in business to produce goods
Correct answer is A
No explanation has been provided for this answer.
Which of the following is regarded as fixed cost?
Cost of raw material
Cost of fuel
Cost of light
Rent on land
Labour wages
Correct answer is D
No explanation has been provided for this answer.
N2,000.00
N60.00
N50.00
N40.00
N30.00
Correct answer is D
No explanation has been provided for this answer.