Post Utme Economics Past Questions and Answers

Question 706:

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

The total population who are children is ____________

A. 360M
B. 120M
C. 520M
D. 240M

Question 707:

The total active population in the country is ____________

A. 400M
B. 200M
C. 520M
D. 360M

Question 708:

An economic system can be defined as an ____________

A. Arrangement specifying how production and consumption are controlled in a society
B. Arrangement whereby goods are distributed in a society
C. Arrangement where human wants are satisfied in a society
D. Arrangement specifying how productive resources are distributed in a society

Question 709:

The following are features of a free market economy except ____________

A. Private ownership of properties
B. Existence of competition
C. High level of profit maximization by private investors
D. Joint decision - making by the citizens in a society

Question 710:

In a capitalist society, production and consumption are regulated by the ____________

A. Demand for the commodity
B. The government
C. Price system
D. Private individuals