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1. In Economics, human wants are usually described as
2. A consumer’s sales of preference is an arrangement of his
3. A typical features of the market economy is that
4. In a free market system, trading can only take place when the
5. Given 0.25, 1.25, 1.80, 1.10, 1.10, 10.20, 10.15, and 1.55 determine the range
6. Which of the following is a set measure of dispersion?
7. The main determinant of a change in the quantity of a commodity demanded is the
8. The determinants of elasticity include
9.
In the table above, the income elasticity of clothing is
10.
The graph above illustrates
11. When the marginal utility of a commodity is zero, the total utility is
12. Given the supply function P= 1/2 (Qs+10) when p = N10 what is Qs?
13. The most important determinant in then the supply of agricultural products is
15. Given thatQd=10-2p while Qs=5-3p, if p =N1 determine the equilibrium quantity
16. One of the functions of the price system is that it
17.
A combination of factors responsible for a shift from D0 D0 to D1 D1 are
18. Given that Qd = 40-2p and Qs = 6P + 24, calculate the equilibrium price
19.
When the price is set below equilibrium, this will lead to
20. Price mechanism determines the prices of commodities through
21. Fixing price above equilibrium will cause
22. An important function of the price system is to.
23.
Commodities I and If are in
24.
The supply of commodity II increasing from S1S1 to S2S2
25. Above full employment level, an expansionary monetary policy will lead to
26. If Government increases its expenditure on public works, the desired effects is
27. An institution that regulates trade relations among members is the
28.
From the table above, find the value of X
29. As a firm increases its output, the average fixed cost
30. In the short run, a firm’s marginal cost curve above the point of shut-down is it’s
31. An industry’s supply curve is more likely to be elastic when firms are
32. One of the characteristics of monopolistic competition is that
33. The producer in a perfectly competitive market is faced with a demand curve whose elasticity is
Hint:
34. Government capacity to raise tax revenue in Nigeria is being hampered by
35. From the table below determine the price index taking 1991 as the base year
36. Bank consolidation policy in Nigeria is a measure to increase
37. In Nigeria, the huge public debt is as a result
38. Economic growth can be accelerated through
39. Fixing the prices of agricultural products can be a problem because of
40. Legal entity means
41. One of the reasons why Nigeria is a mono-economy is because of her
42. A characteristic common to partnership and sole proprietorship is
42. A characteristic common to partnership and sole proprietorship is
44. Population growth is determined by
45. The export — promotion strategy is aimed at producing
46. The government of Nigeria can conserve foreign exchange by
47. One of the major goals of OPEC is to
48. The money paid per hour for work done is
49.
The transfer of public shareholding in corporations to private enterprises is
50.
From the table below, the unemployment rate is