Economics (UI) | Study Mode

Join Discuss Share to WhatsApp
Question 31
A
implicit cost 
B
real cost 
C
opportunity cost 
D
due cost 
E
explicit cost 
Explanation.

No official Explanation yet!


Correct Option:
E
Join Discuss Share to WhatsApp
Question 32
A
managerial inefficiency 
B
increased resource-cost 
C
large market 
D
inefficient business environment 
E
technology 
Explanation.

No official Explanation yet!


Correct Option:
C
Join Discuss Share to WhatsApp
Question 33
A
doubling inputs brings about more than proportionate increase in output 
B
doubling inputs leads to a doubling of output 
C
doubling input brings about less than proportionate increase in output 
D
decrease in profit 
E
increase in revenue 
Explanation.

No official Explanation yet!


Correct Option:
C
Join Discuss Share to WhatsApp
Question 34
A
obtaining maximum output from available resources 
B
equitable distribution of nations resources 
C
carrying out production without any waste 
D
producing the maximum output from available resources at the lowest possible cost 
E
efficient utilisation of the nations resources. 
Explanation.

No official Explanation yet!


Correct Option:
D
Join Discuss Share to WhatsApp
Question 35
A
the advantages accruing to firm as a result of its expansion 
B
the advantages accruing to one firm as a result of the existence of other firms in the same locality 
C
benefits derived by a firm as a result of its own external economies policy 
D
economies reaped only by firms that are externally focused 
E
bound to increase the cost of production 
Explanation.

No official Explanation yet!


Correct Option:
B
Join Discuss Share to WhatsApp
Question 36
A
increasing costs 
B
economies of scale 
C
decreasing returns 
D
decreasing costs 
E
none of the above 
Explanation.

No official Explanation yet!


Correct Option:
B
Join Discuss Share to WhatsApp
Question 37
A
Goods are produced in the factories 
B
Goods are sold to the wholesaler 
C
Goods and services are produced by the government 
D
Prices are fixed for goods and services 
E
Goods and services finally reach the consumer 
Explanation.

No official Explanation yet!


Correct Option:
E
Join Discuss Share to WhatsApp
Question 38
A
profitable to the production process 
B
purchased for the purpose of production 
C
combined in the production process 
D
produced adequately for the production process 
E
brought into factory 
Explanation.

No official Explanation yet!


Correct Option:
C
Join Discuss Share to WhatsApp
Question 39
A
inefficient 
B
possible 
C
with increased output 
D
x-efficient 
E
pareto-compliant 
Explanation.

No official Explanation yet!


Correct Option:
A
Join Discuss Share to WhatsApp
Question 40
A
factor procurement 
B
manufacturing 
C
investment 
D
industrialisation 
E
production 
Explanation.

No official Explanation yet!


Correct Option:
E

Try this quiz in in E-test/CBT Mode
switch to Economics (UI) in CBT Mode

Previous Page Next Page
Question Map
Quiz link
Share Economics (UI) with your audience
Share to WhatsApp CBT mode Study mode copy link

​​​sponsored

Are you a writer, proof-reader, interpreter, teacher, student or just someone who works in Yorùbá Language? 

 
Translate those figures and numbers to words in standard Yoruba Language at YorubaNumeral.com.ng at no cost. 
 
It also aids learning the yoruba numbering system by providing detailed explanation for each number translated up to 25 billion. 
 
English to Yorùbá Numeral Translator