ABU Economics 2007/2008 Past Questions

Practice each question, then open it to see the full details.

Demand for a factor of production is

A.a composite demand
B.a joint demand
C.a derived demand
D.an elasticity demand

Differential product is the characteristic feature of

A.perfect competition
B.pure competition
C.monopoly
D.monopolistic competition

The channel for food distribution in Nigeria consists of

A.producers wholesalers and retailers
B.producers and consumers
C.producers and processors
D.farmers processors and consumers

One disadvantage of sole proprietorship is its

A.limited liability
B.high profits
C.high sense of ownership
D.low credit rating