Post Utme Economics Past Questions and Answers

Question 381:

Which of the following are not agents of distribution?

A. Wholesalers
B. Retailers
C. Consumers
D. Government agencies

Question 382:

Which of the following ts not an advantage of division of labour? it ____________

A. Saves time
B. Makes possible the use of machines
C. Is monotonous
D. Leads to specialization

Question 383:

An inflation in which the price level rises steadily at an average rate of about 2% per annum is best descnbed as ____________

A. Galloping
B. Induced
C. Creeping
D. Suppressed

Question 384:

The greatest disadvantage of the barter system is the need for ____________

A. Durability
B. Divisibility
C. Homogeneity
D. Double coincidence of wants

Question 385:

The type of demand that exists between bicycle and fuel is ____________

A. Competitive demand
B. Complementary demand
C. Composite demand
D. Independent demand.