Post Utme Economics Past Questions and Answers

Question 71:

Infant industries are ____________

A. Baby food and baby clothing factories
B. Those which are introducing new products
C. Cases of arrested development
D. Industries temporarily protected by tariffs barriers until mature enough to compete on world markets
E. Industries that are allowed to remain permanent cases of adolescence

Question 72:

The export-promotion strategy is aimed at producing

A. Consumer goods originally imported
B. Machinery for industries
C. More goods for exports
D. More goods for domestic consumption
E. Increasing export of goods needed in developed countries

Question 73:

Which of the following is NOT an advantage of localization of industries?

A. Reaping of external economies
B. Development of a pool of skilled labour for the industry
C. Development of subsidiary industries
D. Development of organized markets
E. Growth of conurbations

Question 74:

The crucial factors which determines the location of petroleum refineries in Nigeria are availability of raw materials and ____________

A. Capital
B. Political consideration
C. Nearness to source of power
D. Labour
E. Availability of seaports

Question 75:

The petroleum industry in Nigeria is ____________

A. The sole source of the nation's revenue
B. The oldest industry in the country
C. The mainstay of the economy
D. A factor in the decline in the nation's foreign reserves
E. In the hand of NNPC