NDA Economics 2013/2014 Past Questions

Economics is a science which deals with ____.

An effective way to controlling inflation in a mixed economy is to ____.

Demand patterns are determined by the market on the basis of ____.

If the demand for one commodity excludes another, it is said to be ____.

Trade by barter means:

Price (₦)	Qty (bags)
1	60
2	120

From the table above, the price elasticity of supply is ____.

The primary measure of National Output of goods and services during a given period of time is

A country achieves economic development when there is ____.

The transfer of public shareholding, in corporations to private enterprises is ____.

Given the demand and supply equations Qd = 120,000 - 20,000P and Qs = 20,000P,
Answer Questions 10 and 11.
What is the equilibrium price?

Given the demand and supply equations Qd = 120,000 - 20,000P and Qs = 20,000P,
Answer Questions 10 and 11.
What is the equilibrium quantity?

The middlemen in the chain of distribution are

The Central Bank of Nigeria creates liquidity in the economy through

When government revenue in a fiscal year is less than its expenditure, we have a ____.

If the growth rate of available resources continuously outpaces that of the population a country will experience ____.

The equilibrium wage rate in an economy is determined by the ____.

Composite demand refers to ____.

An economic system in which means of production belong to private individuals are known as ____.

The elasticity of supply shows the responsiveness of ____.

The sized labour force of a country depends on but one of the following factors

Suppose 2011 is given as the base and the national income for 2012 is 3600,000and the index number for 2011 is 3200. Calculate the real income for 2012.

NEPAD means ___.

The account that shows the actual transfer of money from one country to the other is called ____.

For an inferior good, a decrease in income will lead to ____.

Statutory organizations usually established by acts of parliament are called ____.

Taxes and government expenditure are instruments of ____.

Farmers' income may fall if they produce more cash crops for export because ____.

A firm with a marginal cost equals its marginal revenue will produce the equilibrium output of

The migration of young people from rural to urban areas in Nigeria should help to raise the ____.

Money becomes a very poor store of value in the period of ____.

One of the effects of an increased minimum wage in Nigeria is ____.

In a capitalist economy. the economic problem of what goods to Produce is divided mainly by:

National debt is an expected outcome of ____.

One way of correcting the balance of payments problem of a country is to

The theory of comparative advantage states that a commodity should be produced in that nation where the

An 'adverse environmental impact of the petroleum industry on the economy is

When importation of a commodity is limited to a definite quantity, the trade control means used is known a ____.

A discount house is a market where ____.

Economic growth is different from economic development because economic growth ____.

In economics, the concept of utility means: