It is impossible to satisfy all human wants because A. Areas of fertile land are...

It is impossible to satisfy all human wants because A. Areas of fertile land are very
limited B. Oceans and seas limit land space for farming C. Resources are not equitably
distributed D. Available resources are limited
2. A system in which the means of production is held in trust for the people by
government is known as a A. Socialist economy B. Capitalist economy C.
Subsistence economy D. Mixed economy
3. The working population refers to A. A population where the average age is falling B.
The population within the ‘0-14’’ age bracket C. The economically active segment of
the population D. The dependent population
4. Which of the following factors is NOT responsible for the rural/urban drift in
Nigeria? A. The infrastructural facilities in cities B. Declining fertility of rural farm
lands C. Rural electrification programme D. Higher living standards in urban areas
5. An accurate census is important to a country because it helps A. In solving
unemployment problem B. To ensure equitable population redistribution relative to
natural resources C. In deciding on the creation of more local governments D. In
providing a sound basis for formulating development policy
6. If 502.75 million tonnes of grains are consumed annually by a population of 88.5
million people, the per capita grains consumption will be A. 6.00 tonnes B. 5.68
tonnes C.0.60 tonnes D. 0.57 tonnes
7. In the theory of production and cost, the average total cost of a firm is minimized
when the marginal cost curve cuts the average total cost at its. A. Lowest point
B. Middle point C. Maximum point D. Downward slopping section
8. A firm faces diminishing returns when it’s A. Total output diminishes B. Average
output diminishes C. Marginal output diminishes D. Marginal revenue diminishes?

In Economics
2 Answers Available
Asked by Obidinma on 13th July, 2020