Economics 1 | Study Mode

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Question 11
A
an individual
B
two or more partners
C
shareholders
D
a bank
Explanation

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Correct option: C
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Question 12
A
money
B
poverty
C
unemployment
D
inflation
Explanation

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Correct option: D
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Question 13
A
The rate of natural increase
B
The net migrate
C
The fertility rate
D
All of the above
Explanation

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Correct option: D
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Question 14
A
ignore tastes, incomes and other prices
B
assumes that tastes, income and prices do not matter
C
assumes that taste, income and all other prices change in same direction as prices
D
assume that tastes, incomes and all other prices remain constant
Explanation

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Correct option: D
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Question 15
A
the current account
B
foreign exchange
C
Short-term capital
D
Long-term capital
Explanation

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Correct option: B
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Question 16
A
there is no shortage of goods and services
B
the state is the sole owner of resources
C
production is largely oriented towards consumption in the rular sector
D
women predominate in all economic activities
Explanation

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Correct option: C
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Question 17
A
services
B
goods and services
C
short-term and long-term capital
D
goods that cannot be seen
Explanation

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Correct option: D
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Question 18
A
inflation or increasing prices generally
B
increases in foreign reserves
C
decreases in foreign reserves
D
Government budget surplus
Explanation

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Correct option: B
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Question 19
A
Increase supply of lace material in Nigeria
B
Production of better quality lace abroad
C
Lower price of lace material in Nigeria
D
Higher price of lace material in Nigeria
Explanation

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Correct option: D
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Question 20
A
keeps excess demand within limits
B
keeps excess supply within limits
C
generates the greatest possible profits
D
equates the quantity supplied to be equal to the quantity demanded
Explanation

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Correct option: D

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