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NDA – Economics – 2003

Challengemoi - NDA Past Questions and Answers

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?

1200

The perfect competition starts maximizing profit the point where the marginal revenue curve cuts the marginal cost curve and at this point

Correct! Wrong!

A marketing board is

Correct! Wrong!

?C/?Y is a formula for calculating

Correct! Wrong!

Money becomes a very poor store of value in a period of

Correct! Wrong!

The branch of statistics used by a person who throws dice is:

Correct! Wrong!

The total of all income payment which land, labour, and capital as well as entrepreneurs receive in a year is known as

Correct! Wrong!

Cocoa, groundnuts, cotton, coffee and kola nuts are;

Correct! Wrong!

The Acronym UNCTAD stands for

Correct! Wrong!

The concept of utility is highly emphasized in the theory of

Correct! Wrong!

Which cannot be predicted with the same accuracy like that of physical Sciences

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Two commodities are considered to be perfect substitutes for each other if the elasticity of substitution is

Correct! Wrong!

The first commercial discovery of crude oil in Nigeria was in

Correct! Wrong!

The average revenue curve of a firm is

Correct! Wrong!

ECOWAS treaty was signed in

Correct! Wrong!

The Principal national macro-economics goals include the following,

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If quantity demanded exceeds quantity supplied, price is ____than the equilibrium price

Correct! Wrong!

17. Agriculture is important in Nigeria because it provides foods, shelter and

Correct! Wrong!

Labour productivity is defined as

Correct! Wrong!

The economist sees cost in terms of

Correct! Wrong!

When demand is graphed, price is placed on _________ axis and quantity on the __________ axis

Correct! Wrong!

The relationship between receipts and payments made by countries in international trade is called

Correct! Wrong!

National income is

Correct! Wrong!

Division of labour is limited by

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All but one are barriers to International Trade

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Utility is measured in

Correct! Wrong!

Usually in most English speaking countries of West Africa census is conducted every

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The function of International Monetary Fund is to

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Which of the following is one variable that cause the demand curve to

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National debt is simply

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Statistics is used to interpret

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The second Tier Foreign Exchange Market (SFEM) was introduced to:

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The need to study economics arose because Of

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Which of the following is the most accurate statement about the retailer

Correct! Wrong!

In a perfect market, the perfect competitor

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All but one are advantages of monopoly:

Correct! Wrong!

Economics is a Social Sciences because

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The rate which a country's export is exchanged of its imports is called

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Which of the following cannot affect the supply of a commodity?

Correct! Wrong!

Elasticity Of demand can be defined as

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A market structure with two firms or sellers is called

Correct! Wrong!

NDA - Economics - 2003
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Your performance placed in the third class. You can take this course repeatedly to get used to the questions.

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