UNIPORT Economics 2016/2017 Model 2 Past Questions

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

The distinction between onshore and offshore operations in oil exploration lies in the

A.location of sites
B. output generated
C. size of production
D. techniques of production

In a car assembly plant, division of labour is demonstrated by

A.assigning each worker to a specific activity
B. assigning, each worker a given number to produce
C. increasing the daily output
D. producing a specific model

The technical relationship between input combination and maximum attainable output is called

A.a production function
B. an indifference curve
C. an isocost
D. an isoquant

The regulatory authority of the capital market in Nigeria is the

A.Central Bank
B. Securities and Exchange Commission
C. Nigerian Deposit Insurance Corporation
D. Stock Exchange Market

Population density is described as the

A.average number of people per square kilometer
B. average number of people in a country
C. total population excluding migration
D. total population including migrants

In economics, production takes place only when

A.producers sell to retailers
B. value has been added to a commodity
C. modern equipment is used
D. consumption has taken place

The problem of planning in Nigeria is mainly in the

A.implementation of the plans
B. appraisal of the plans
C. allocation of scarce resources
D. articulation of the plans

Economic growth is different from economic development because economic growth

A.describes expansion and change
B. is measurable but not objective
C. describes expansion and not change
D. is not measurable but objective

The factor responsible for the current inflationary pressures in Nigeria is the

A.exchange rate depreciation
B. increase in exports
C. low per capita income
D. budget surplus

Minimum wage legislation will result in

A.reduced income
B.reduced labour productivity
C.greater demand for labour
D.greater supply of labour