UNN Economics 2010/2011 DAY 2 Past Questions

The need to construct a scale of preference is necessitated by

If a 10k per kg, 1000 kg of yam were purchased and at 5k per kg 1500kg were purchased, the resultant point elasticity of demand is

If a wage increase is granted to a cement manufacturer's worker, the supply curve of cement will

The elasticity of supply of perishable goods is

The average product of labour in a given period is obtained by dividing the

A possible factor which limits the extent of growth of a firm is the

A major difference between a state-owned enterprise and a private enterprise is that the former

The main handicap of sole proprietorship is

Taxes and government expenditures are instruments

If C stands for consumption, I for investment, X for exports, and M for imports, then national income is

A capital market differs from the money market in that in the former

The money market is a financial market that specializes in the provision of

There is an improvement in the terms of trade of a country if

A country with over-valued currency will

In an agricultural economy, a poor harvest which diverts demand away from industrial goods leads to trade cycle by