Economics 1 | Study Mode

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Question 1
A
It is always successful 
B
Continuity is no problem 
C
Control and supervision is under one man 
D
Inter-generational equity is assured 
Explanation.
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Correct Option:
C
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Question 2
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 
Explanation.
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Correct Option:
D
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Question 3
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 
Explanation.
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Correct Option:
C
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Question 5
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 
Explanation.
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Correct Option:
A
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Question 6
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 
Explanation.
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Correct Option:
D
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Question 9
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 
Explanation.
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Correct Option:
C
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