Post Utme Economics Past Questions and Answers

Question 766:

One disadvantage of sole proprietorship is its ____________

A. Limited liability
B. Higher profits
C. High sense of ownership
D. Low credit rating
E. Low failure value

Question 767:

The monetary system that requires double coincidence of wants is known as ____________

A. The gold standard
B. The Barter practice
C. The commodity system
D. The gold exchange standard
E. The cheque system

Question 768:

The marginal theory of distribution makes an assertion that the price of any factor depends upon its marginal ____________

A. Utility
B. Productivity
C. Raw of substitution
D. Revenue
E. Proceeds

Question 769:

By using exchange controls. a country tries to eliminate a balance on payments deficit to be ____________

A. Limiting her imports to its currency value of exports
B. Reducing the nation's domestic price level
C. Limiting her exports to its currency value of imports
D. Overvaulting the country's currency
E. Undervaluing the country's currency.

Question 770:

Economics of scale operates only when ____________

A. Marginal cost in falling with input
B. Average cost is falling with output fixed costs is variable
C. Fixed cost is variable
D. Viable cost is less than fixed cost
E. Variable cost is equal to cost of output.