A firm is at its optimum size when ___________

A. It has a motive to increase output

B. It produces the greatest output at a minimum cost

C. Marginal cost equals marginal revenue

D. Marginal cost is less than marginal revenue

Under the ECOWAS agreement, a Nigerian can enter and stay in Ghana without a Visa for a period of ________

A. 100 days

B. 30 days

C. 90 days

D. 14 days

The petro-chemical industries are located in Rivers State of Nigeria due to ________

A. Coal deposit

B. Palm oil products

C. Favourable soil

D. Oil deposits

Table:
012345-1015171818-105210This table illustrates the law of _________

A. Increasing returns

B. Diminishing returns

C. Diminishing marginal utility

D. Increasing total utility

Pricing and Output decisions of sellers are highly inter-dependent in markets known as _________

A. Monopoly

B. Oligopoly

C. Monopolistic competition

D. Perfect competition

Full employment is a situation in which _______

A. Every adult is employed.

B. Only the disable are not employed.

C. All adults who can work are employed.

D. All those who are able and eligible can find employment

Mono production economies are those that____

A. Produce one main commodities

B. Have a rich cultural heritage.

C. Specialize in agricultural industries.

D. Produce only raw materials.

Petroleum 'glut' in international trade means______

A. Higher prices for the Consumption of petroleum.

B. An Oversupply of petroleum.

C. A fall in in petroleum production.

D. A higher petroleum price offered by the buyer.

Retailers in an economy perform the function of ______

A. Distribution.

B. Exchange

C. Investment

D. Production

In a sole proprietorship, the decisions are made by the ______

A. Government

B. Management

C. Owner

D. Board of Directors