NDA – Economics – 2003
This quiz consist of over 50 NDA Economics past questions and answers. The answers are well explained. Retake the quiz as many times as you feel the need. Success!
This is a timed quiz. You will be given 1200 seconds to answer all questions. Are you ready?
The concept of utility is highly emphasized in the theory of
ECOWAS treaty was signed in
The need to study economics arose because Of
The economist sees cost in terms of
The function of International Monetary Fund is to
If quantity demanded exceeds quantity supplied, price is ____than the equilibrium price
Economics is a Social Sciences because
Which cannot be predicted with the same accuracy like that of physical Sciences
Cocoa, groundnuts, cotton, coffee and kola nuts are;
The relationship between receipts and payments made by countries in international trade is called
The Principal national macro-economics goals include the following,
Money becomes a very poor store of value in a period of
The perfect competition starts maximizing profit the point where the marginal revenue curve cuts the marginal cost curve and at this point
Usually in most English speaking countries of West Africa census is conducted every
Which of the following is the most accurate statement about the retailer
The second Tier Foreign Exchange Market (SFEM) was introduced to:
All but one are advantages of monopoly:
When demand is graphed, price is placed on _________ axis and quantity on the __________ axis
Labour productivity is defined as
The total of all income payment which land, labour, and capital as well as entrepreneurs receive in a year is known as
Elasticity Of demand can be defined as
Statistics is used to interpret
The rate which a country's export is exchanged of its imports is called
The average revenue curve of a firm is
17. Agriculture is important in Nigeria because it provides foods, shelter and
The branch of statistics used by a person who throws dice is:
All but one are barriers to International Trade
?C/?Y is a formula for calculating
Which of the following cannot affect the supply of a commodity?
The Acronym UNCTAD stands for
Which of the following is one variable that cause the demand curve to
The first commercial discovery of crude oil in Nigeria was in
In a perfect market, the perfect competitor
Two commodities are considered to be perfect substitutes for each other if the elasticity of substitution is
Division of labour is limited by
A market structure with two firms or sellers is called
NDA - Economics - 2003
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