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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

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

Correct! Wrong!

National income is

Correct! Wrong!

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

Correct! Wrong!

National debt is simply

Correct! Wrong!

The economist sees cost in terms of

Correct! Wrong!

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

Correct! Wrong!

The Principal national macro-economics goals include the following,

Correct! Wrong!

Utility is measured in

Correct! Wrong!

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

Correct! Wrong!

The need to study economics arose because Of

Correct! Wrong!

?C/?Y is a formula for calculating

Correct! Wrong!

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

Correct! Wrong!

Labour productivity is defined as

Correct! Wrong!

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

Correct! Wrong!

Division of labour is limited by

Correct! Wrong!

All but one are advantages of monopoly:

Correct! Wrong!

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

Correct! Wrong!

The concept of utility is highly emphasized in the theory of

Correct! Wrong!

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

Correct! Wrong!

Elasticity Of demand can be defined as

Correct! Wrong!

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

Correct! Wrong!

The function of International Monetary Fund is to

Correct! Wrong!

A marketing board is

Correct! Wrong!

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

Correct! Wrong!

Statistics is used to interpret

Correct! Wrong!

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

Correct! Wrong!

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

Correct! Wrong!

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

Correct! Wrong!

A market structure with two firms or sellers is called

Correct! Wrong!

The Acronym UNCTAD stands for

Correct! Wrong!

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

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!

Economics is a Social Sciences because

Correct! Wrong!

The first commercial discovery of crude oil in Nigeria was in

Correct! Wrong!

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

Correct! Wrong!

The average revenue curve of a firm is

Correct! Wrong!

In a perfect market, the perfect competitor

Correct! Wrong!

ECOWAS treaty was signed in

Correct! Wrong!

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

Correct! Wrong!

All but one are barriers to International Trade

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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