Post Utme Economics Past Questions and Answers

Question 701:

if the price of commodity \(X\) increases because of the increase in the price vis-a-vis the increase in demand for other commodity Y, the two commodities are likely to be ____________

A. Complimentary
B. Substitute
C. Composite
D. Intermediate

Question 702:

Which the following may not inflate the National Income ____________

A. Student's bursary
B. Owners occupied houses
C. Office inducement
D. Intermediate goods

Question 703:

Legal entity means ____________

A. A company is owned by large number of people
B. A company is owned by small number of people
C. A company is insulated against litigation
D. A company is not insulated against litigation

Question 704:

In the ownership structure of joint stock company, the following is correct ____________

A. Ordinary shareholders are stronger than preferential shareholders
B. Preferential shareholders are stronger than ordinary shareholders
C. Ordinary shareholders are settled first in case of company's liquidation
D. Ordinary and preferential shareholders are perpetual rivals

Question 705:

The total population of a country is 720 million people and this is represented by the pie chart below

The total population within age group 61 years and above is ____________

A. 120M
B. 200M
C. 100M
D. 80M