Post Utme Economics Past Questions and Answers

Question 686:

Private and public limited companies are not the same because ____________

A. Former is limited to fifty shareholders but not the latter
B. Both are not legal entities
C. Former is established secretly but latter is located in central places.
D. Former is managed by board of directors but latter is inanaged by board of management

Question 687:

Price discrimination exist when ____________

A. The same product of the same quality is sold for diflerent prices to the same buyer
B. The same product of the same quality is sold for different prices to different buyers
C. Different products are sold for the same price to the same buyers
D. Different products are sold for the same price to different buyers

Question 688:

A commodities is said to be price inelastic if ____________

A. A changes in the quantity purchased of a good is less than proportionate changes in its price
B. Changes in the quantity purchased of a good is proportional to change in its price
C. Changes in the quantity purchased of a good is more than proportionate changes in its price
D. The quantity purchased of a good never responds to change in its price

Question 689:

The parameter ' \(b\) ' in a consumption function of the form; \(c=a+b Y\) where \(\mathrm{Y}\) is the National Income is ____________

A. Marginal benefit of consumption
B. Marginal propensity to purchase
C. Marginal propensity to consume
D. Marginal propensity to save

Question 690:

Indifference curve and isoquant are respectively relevant in ____________

A. Theories of consumer behaviours and production
B. Theories of human indifference and production
C. Theories of trade and production
D. Theories of production and trade