Post Utme Economics Past Questions and Answers

Question 446:

Economic development is defined as ____________

A. Outward shift of the production possibility curve
B. Availability of micro good and services
C. Growth accompanied by qualitative change in living standards
D. Growth in the national income

Question 447:

Productive resources can also be called ____________

A. Principle of production
B. Factors of production
C. Items of production
D. Labour and materials resources

Question 448:

Data presented in tables are usually arranged in ____________

A. Charts and graphs
B. Rows and columns
C. Graphs and rows
D. Column and charts

Question 449:

Which of the following factors does not causes change in demand?

A. Taste and fashion
B. Vagaries weather
C. Price of other commodities
D. Price of the commodity

Question 450:

The gap between demand and supply curves above the equilibrium price is ____________

A. Normal demand
B. Excess demand
C. Equilibrium quantity
D. Abnormal demand