Post Utme Economics Past Questions and Answers

Question 426:

Which of the following is a middleman in the chain of distribution

A. An entrepreneur
B. A producer
C. A banker
D. Retailer?

Question 427:

Long-term loans can be secured from ____________

A. Commercial banks
B. Discount houses
C. Development banks
D. Acceptance houses.

Question 428:

The tax levied on goods and services at each stage of production is ____________

A. Surtax
B. VAT
C. Ad valorem tax
D. PAYE

Question 429:

The number of shareholders in a private limited liability company ranges from ____________

A. Two to seven
B. Two to three
C. Two to fifty
D. Two to twenty.

Question 430:

The difference between payments and receipts for visible trade is called ____________

A. Bilateral trade
B. Current balance
C. Balance of payments
D. Balance of trade.