Post Utme Economics Past Questions and Answers

Question 566:

The numeration of the entrepreneur as a factor of production is called ____________

A. Wages
B. Salary
C. Interest
D. Profits

Question 567:

Discounting a bill of change means the bill is ____________

A. Cashed over the counter
B. Sold on the stock exchange
C. Bought for less than its face value
D. Sold to the highest bidder

Question 568:

Age distribution is important because it helps the government to ____________

A. Check rural-urban drift
B. Determine the numbers of foreigners
C. Determine the number of factories
D. Undertake effective planning

Question 569:

Which of the following is not a reason for abnormal demand?

A. Price of the commodity
B. Goods of ostentation
C. Giffen goods
D. Rare commodity

Question 570:

Increase in production subsidies will shift ____________

A. The demand curve to the left
B. The supply curve to the right
C. Both the supply and demand curves to the left
D. The supply curve to the left and demand curve to the right