NDA – Economics – 2003
This quiz consist of over 50 NDA Economics past questions and answers. The answers are well explained. Retake the quiz as many times as you feel the need. Success!
This is a timed quiz. You will be given 1200 seconds to answer all questions. Are you ready?
Two commodities are considered to be perfect substitutes for each other if the elasticity of substitution is
The perfect competition starts maximizing profit the point where the marginal revenue curve cuts the marginal cost curve and at this point
The economist sees cost in terms of
If quantity demanded exceeds quantity supplied, price is ____than the equilibrium price
The Principal national macro-economics goals include the following,
Money becomes a very poor store of value in a period of
The need to study economics arose because Of
?C/?Y is a formula for calculating
Cocoa, groundnuts, cotton, coffee and kola nuts are;
Labour productivity is defined as
The branch of statistics used by a person who throws dice is:
Division of labour is limited by
All but one are advantages of monopoly:
The relationship between receipts and payments made by countries in international trade is called
The concept of utility is highly emphasized in the theory of
When demand is graphed, price is placed on _________ axis and quantity on the __________ axis
Elasticity Of demand can be defined as
17. Agriculture is important in Nigeria because it provides foods, shelter and
The function of International Monetary Fund is to
Usually in most English speaking countries of West Africa census is conducted every
Statistics is used to interpret
The rate which a country's export is exchanged of its imports is called
Which of the following cannot affect the supply of a commodity?
Which cannot be predicted with the same accuracy like that of physical Sciences
A market structure with two firms or sellers is called
The Acronym UNCTAD stands for
Which of the following is one variable that cause the demand curve to
The total of all income payment which land, labour, and capital as well as entrepreneurs receive in a year is known as
Economics is a Social Sciences because
The first commercial discovery of crude oil in Nigeria was in
The second Tier Foreign Exchange Market (SFEM) was introduced to:
The average revenue curve of a firm is
In a perfect market, the perfect competitor
ECOWAS treaty was signed in
Which of the following is the most accurate statement about the retailer
All but one are barriers to International Trade
NDA - Economics - 2003
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