BUK Economics 2012/2013 Past Questions

In economics, the rewards for labour is in the form of

Which of the following business establishment are not motivated mainly by profit?

A situation in which an increase is the correct way to calculate total cost?

A situation in which an increase in the demand for certain goods leads to a fall in the demand for other goods is known as

A market equilibrium exist when

A firm's compulsory cost, whether it is in production or not, is referred to as its

An economic system in which the state own and controls the means of production is known as

Which of the following is a function of the retailer?

An industry can best be described as

Average variable cost (AVC) curve

The changing of different prices to different groups of buyers for the same goods or services is called

The changing of different prices to different groups of buyers for the same goods or services is called

A tax on a commodity whose demand is perfectly inelastic will fall heavily on the

Unemployment that arises because of introduction of new machines and equipment in production is called

Balance payments deficit implies that a country is

The primary objectives of the Nigerian industrial development bank (NIBD) is the provision of banks to

The shares which do not carry any fixed rate of dividend are known as

Money becomes a very poor store of value in a period of

The most important function of merchant banks is the

The most common index for measuring development is

Which of the following is a direct tax?

The organization of petroleum exporting countries (OPEC)is an example of a

Which of the following are examples of transfer payments?

International trade depends on the concepts of

If the population of a country is low and the gross national product is high, the per capital income will be

The sum of #80,000.00 is deposited in a bank and the cash ration of the banking system is 10% calculate the total sum of money the bank can create for the deposit

An account from which allocations are made to the three tiers of government in Nigeria is called the

Fiscal policy involves changes in

In a capitalist economy, the economic problems of what goods to produce is decided mainly by