Post Utme Economics Past Questions and Answers

Question 826:

Economic freedom is bought about by the existence of ____________

A. Government
B. Money
C. Availability of credit
D. Choice

Question 827:

Which of the following is the best general definition of the study of economist?

A. The best way to invest in the stock market
B. Business decision making under foreign competition
C. Individual and social choice
D. Inflation and unemployment in a growing economy

Question 828:

What implication does resource scarcity have for the satisfaction of wants?

A. Not all wants can be satisfied
B. We will never be faced with the need to make choices
C. We must develop ways to decrease our individual wants
D. The discovery of new resources

Question 829:

In economics. rational decision-making requires that ____________

A. One's choice be arrived at logically and without error
B. One's choice be consistent with one's goals
C. One's choices never vary
D. One makes choices that do not involve trade-off's

Question 830:

A deficit budget is usually drawn up during ____________

A. Economic buoyant
B. Inflationary period
C. War lime
D. Economic recession