Post Utme Economics Past Questions and Answers

Question 271:

The clearing house of all commercial banks in Nigeria is the ____________

A. General post office
B. Bank for commerce and industry
C. Nigeria industrial development Bank
D. Mortgage Bank
E. Central

Question 272:

Which of the following is the normal channel by which commodities reach the final consumers?

A. Manufacture - wholesaler agent - retailer - consumers
B. Manufacture - wholesaler retailer - consumer
C. Manufacture - wholesaler sales representative - retailer consumer
D. Manufacturer - wholesaler retailer - agent - consumer
E. Manufacture - wholesaler retailer - sales representative consumer

Question 273:

Economics can be best defined as the study of ____________

A. How to spend the family income efficiently
B. How to find minimum cost of production
C. The interpretation of scarce resources and data
D. How scarce resources can be used efficiently
E. Why resources are scarce

Question 274:

The purchasing power of the naira will fall when ____________

A. Workers are retrenched
B. The colour of the naira is changed
C. The government cuts all salaries and wage
D. There is inflation
E. The naira is overvalued

Question 275:

The most important attribute money has is ____________

A. Homogeneity
B. Relative scarcity
C. Divisibility
D. General acceptability