Post Utme Economics Past Questions and Answers

Question 331:

Which of the following reasons could induce a manufacturer to bypass the wholesaler in the distribution chain?

A. To provide the quantity needed by retailers
B. To collect useful information on his product
C. To provide warehousing facilities
D. To violate government regulation on distribution

Question 332:

Which of the following is used for measuring national income?

A. Output, income and wages
B. Import, expenditure and output
C. Income, output and expenditure
D. Export, import and output

Question 333:

When a firm is reaping economies of large-scale production, it experiences a fall in its ____________

A. Long-run marginal cost
B. Long-run average cost
C. Long-run total cost
D. Short-run marginal cost

Question 334:

The most important factor determining the location of the cement industry in Nigeria today is ____________

A. Capital and government policy
B. The nature of the product, infrastructure and government Policy
C. Nearness to thin market and source of power
D. Raw materials

Question 335:

The most basic concern of economist is to ____________

A. Create human wants
B. Satisfy human wants
C. Allocate scarce resources to satisfy human wants
D. Create perfect competition