Post Utme Economics Past Questions and Answers

Question 471:

The basic problem that Economics attempts to solve is the ____________

A. Ranking of goods and services
B. Pricing of goods and services
C. Scarcity of resources
D. Foregoing of alternatives

Question 472:

The ranking of consumers’ needs in order of importance is termed ____________

A. An opportunity cost
B. Economic scale
C. A scale of preference
D. The making of choice

Question 473:

The total number of fruits consumed by a family in a year is 720, and this is represented by the pie-chart

The quantity consumed by the family is ____________

A. 60
B. 120
C. 200
D. 240.

Question 474:

The total number of fruits consumed by a family in a year is 720, and this is represented by the pie-chart

The sum total of the quantity of mango and orange consumed by the family is ____________

A. 120
B. 200
C. 360
D. 400

Question 475:

The total number of fruits consumed by a family in a year is 720, and this is represented by the pie-chart

The quantity of carrot consumed by the family is ____________

A. 200
B. 360
C. 400
D. 520