Economics (2018) Study Mode

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1.
Occupational distribution of population is mainly influenced by __.
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A.
economic factors
B.
religious factors
C.
geographical factors
D.
social factors.

2.
The reward for capital is __.
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A.
interest
B.
rent
C.
risk
D.
premium

3.
The reduction in the value of a country's currency in relation to the value of the currencies of other nations is known as __.
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A.
deflation
B.
inflation
C.
devaluation
D.
revaluation

4.
Mortgage banks give loans to investors on a long- term basis to __.
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A.
finance agriculture
B.
establish banks
C.
acquire machinery
D.
build houses

5.
In a capitalist economy, factors of production are owned and controlled by the __.
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A.
citizens
B.
businessmen
C.
government
D.
foreigners

6.
The establishment of industries in rural areas will help to reduce __.
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A.
urban-rural migration
B.
rural-urban migration
C.
rural-rural migration
D.
urban-urban migration.

7.
International trade is an application of the principle of __.
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A.
industrial production
B.
mass production
C.
regional production
D.
comparative cost advantage.

8.
The number of people who are qualified to work and who offer themselves for employment is called __.
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A.
migrant labour
B.
working population
C.
labour turnover
D.
mobility of labour

9.
Which of the following is an advantage of localisation of industry?
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A.
Development of subsidiary firms
B.
Creation of parallel markets
C.
Development of slums
D.
Attraction of foreign capital

10.
The Economic Community of West African States (ECOWAS) has been slow in achieving its objectives because of __.
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A.
the activities of multinationals
B.
inadequate personnel at the secretariat
C.
political instability
D.
inadequate international support

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