Post Utme Economics Past Questions and Answers

Question 556:

In capitalist system goods are produced for those who ____________

A. Want than most but cannot pay for them
B. Can pay for them but do not want them
C. Can pay for them and can pay for them

Question 557:

An economy which exhibits features of both private and State enterprises is known as a ____________

A. Capitalist economy
B. Mixed economy
C. Communist economy
D. Socialist economy

Question 558:

The desire for goods without ability to pay is called ____________

A. Choice
B. Effective demand
C. Joint demand
D. Wants

Question 559:

Acceptability, durability, homogeneity and portability are all attributes of goods ____________

A. Markets
B. Money
C. Banks
D. Government

Question 560:

Mr. Bala’s income is N800.00 per month while that of Mr. Jatau is N1,200.00. If Mr. Bala and Jatau pay N80.00 and N120.00 respectively as taxes, the system is ____________

A. Progressive
B. Regressive
C. Proportional
D. Ad-valorem