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1.
The advantage of sole proprietorship is as follow
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A.
It is always successful
B.
Continuity is no problem
C.
Control and supervision is under one man
D.
Inter-generational equity is assured

2.
In economics production is complete when
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A.
Goods are produced in the factory
B.
Goods are sold to the wholesalers
C.
Prices are fixed for goods and services
D.
Goods and services finally reach the consumer

3.
A rational consumer will adjust his spending pattern so that
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A.
He buys only the one item that gives him most total satisfaction
B.
The marginal utility he gets from the last unit of item is the same
C.
The marginal utility he gets from the last naira spent on each item is the same
D.
The total amount of money he spends on each item is the same

4.
which of these alternative is wrong? central banks are
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A.
bankers to the government
B.
bankers to commercial banks
C.
merchant banks
D.
controllers and regulators of money supply

5.
The proportion of currency in the money supply
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A.
is higher in developing countries than advanced countries
B.
is lower in developing countries than advanced countries
C.
is the same in both developing and advanced countries
D.
grows as the economy develop

6.
Pure monopoly describes market where
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A.
there are many sellers and a few buyers
B.
goods are sold at different price
C.
entry is not blocked, but no one cares to enter
D.
None of the above

7.
which of the financial institutions cannot direct tax loans to individuals?
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A.
The agricultural bank
B.
The Industrial bank
C.
The central bank
D.
The Co-operative bank

8.
Which is NOT a cause of high population growth in Nigeria?
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A.
Family planing Unit of Nigeria
B.
Improve medical facilities
C.
Reduction in death rate
D.
Increased birth rate

9.
Commercial banks can create money in the following ways?
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A.
by using coins and paper money
B.
by borrowing money from banks abroad
C.
by receiving deposit from individuals
D.
by printing money on the instruction of the central bank

10.
Utility of a commodity means?
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A.
its usefulness
B.
power to satisfy a want
C.
price of the commodity
D.
its adaptability

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