If an increase in the price of good X leads to an increase in the supply of good Y, X and Y are said to be

A necessary condition for specialization in an economy is the existence of

Which of the following yields more revenue to Nigeria?

Import duty concessions on industrial inputs directly benefit the

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

Import substitution aims at

The number of shareholders in a private limited liability company ranges from

I. What and how much will be produced?
II. How will it be produced?
III. For whom will it be produced?
IV. How much will be exported and consumed?

From the above, identify the combination of basic resource allocation questions in economic analysis

Insurance companies, pension and provident funds and unit thrusts are all examples of

An advantage of the sole proprietorship over the partnership form of business organization is that

The marketing of agricultural commodities in Nigeria is hampered by

The labour force of a country can be determine by examining the

By advertising, a monopolistic competitive firm tries to shift its

Which of the financial institution is charged with the formulation of monetary policies in Nigeria?

A large standard deviation is an indication of

A change in demand for a normal good means

To compare the standard of living among nations, the most widely used economic indicator is the

The middlemen in the chain of distribution are

In economics analysis, a statement is said to be normative if, it

Some of the key indicators of underdevelopment in a country are

One of the problems arising from the localization of industries is

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

Privatization and commercialization of public enterprises in Nigeria is necessitated by

The effect of an increase in the personal income tax is to

The long-run average cost curve is called a planning curve because it shows what happens to costs when

Given that Y = C + I and C = bY where b = 0.8, what is the multiplier?

In a closed economy, the marginal propensity to consume is 0.6 and the average propensity to consume is 0.8. The value of the multiplier is

One of the roles of the NNPC in the production and refining of crude oil is to

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

In a small-scale business. the fixed cost is #5 000.00. variable cost is #15 000.00 and the output is 500 units. What will be the unit cost of the goods?

The labour force of a country can be determine by examining the

In a centrally planned economy, the economic problem of deciding what to produce is dependent on

In an open economy, the GNP is measured as

The commercial banks differ from non-bank financial institutions because they

Occupational mobility as applied to factors of production means the case by which

The equilibrium wage in an economy is determined by the

Economics can be defined as

By advertising, a monopolistic competitive firm tries to shift its

If budget deficits are financed by borrowing, the crowding-out effects can be offset by an increase in

At the maximum point of the total product curve of a firm, marginal revenue is