QUESTIONS
____ is a group of firms producing similar products and under separate admin
____ is the oldest and most common type of business organizatio
____ is the basic unit within which factors of production are organized for the purpose of producing
____ is usually formed by an association of two or twenty persons, who by an agreement
(usually legal) decide to pool their resources (capital) together
In which of the following economic systems do we have mostly private ownership of
resources and individual decision making?
Which of the following problems arises where there are more than one technically possible
methods of productions?
State owned enterprises are more common in __________
_____ define economics is the studies of human behaviour as a relationship ends and
service means which have alternative uses.
The reward for land is _____
_____ can be defined as a list of unsatisfied wants arranged in the order of their relative
importance.
The reward for labour is _____
An ____ is a group of firms producing similar products and under separate administration or mana
An industry include a _____ of different firms which produce similar goods under separate manage
The growth of individuals leads to an increase in ___ of goods and services
____ to market reduces the cost of transportation and meets high demand by consumers
_____ industry is concerned with the movement of passengers and goods from one place
to another
One of these is not a basic tool for economics analysis
A major factor affecting the value of money is the?
The Nigerian bank for commerce and industry is?
The basic needs of human beings are _______
The total numbers of people living within a country or a geographical area at a particular
time is known as ____
The head count of al nationals of a country at a particular time is called ____
In 1952/53, population was given as _____
____ is the notality rate of a country refers to the rate at which children are being given birth
to in that country
____ is the notality rate of a country refers to the rate at which people (adult and children)
die in a country
The movement of people from one geographical area to another involving permanent or
temporary residence or settlement is known as ____
The number of persons per square kilometer of land is ____
The grouping of population according to the economic activities people engage in is
The problem of humanity has always been that his wants
The production starts from manufacturing and ends at
One characteristic of labour is that it is
Given 4, 3.8, 6, 2.4 and 11.0, determine the mean
The willingness of an individual backed with purchasing power at a given period of time is
Which of the following is not a source of finance for a one-man business?
One advantage of the sole proprietorship over other forms of business organisations is that it can
A major disadvantage of partnership form of business is that
A co-operative society is a
The main difference between a private and public enterprise is the
The natural growth rate of a population is the A. B. C. D.
OPTION A OPTION B OPTION C
firm industry factory
sole proprietorship partnership joint venture
industry firm factory
sole proprietorship partnership joint venture
capitalism system mixed system socialism system
where to produce how to produce for whom to produce
centrally planned economi mixed economics capitalist economics
alfred marshal abraham linlcon lionel robbins
wages rent interest
opportunity cost scale of preference want
rent wages interest
manufacturing components industry
extraction collection conversion
localisation production individuals
nearness individuals generation
individuals generation nearness
Variation Standard deviation Tables
The price level Banking habits Transaction motive
A commercial bank A development bank An industrial bank
Limited Insatiable Economical
population polpulation census distribution age
population census population counting
40 million 31.12 million 140 million
death rate birth rate migration
birth rate death rate migration
birth rate death rate migration
population density total population land area
age distribution geographical distribution sex distribution
cannot be prioritized are unlimited are scarce
consumption distribution utility
fixed in supply fixed in demand mobile
3.5 8 6
wants desire effective demand
money lenders inheritance loans from banks
make very high profits employ many workers keeps its affairs private
every partner has to be
consulted during decision
makin partners could be too friendl affairs can be kept private
finance house self-help bisiness organisatio public corporation
shares profits wages and salaries
amount of profit realised mode of operation objective of the business
death rate plus net immigr rate of migration divided by bbirth rate minus death rate
OPTION D ANSWERS
plant B
joint stock A
plant B
limited liability B
traditional system A
what to produce B
developed economics B
adam smith C
profit B
choice B
profit B
finished C
transport B
traffic B
transport A
transport D
Median A
Divisible nature of money A
A merchant bank B
Formulating B
migration A
A-C A
88.5 million B
census B
A-C B
census C
population A
occupational distribution D
can only be produced technologically. B
satisfaction C
untrainable
5.4 D
utility C
sales of shares D
produce on a very large scale. C
partners could take long holidays. A
non-democratic business organisation C
dividends A
ownership structure D
sum of birth rate and net immigration r C