Palm oil industry is located in Old Bendel State because the state______

A. Land is suitable for oil

B. Is a palm tree growing area

C. Soil is unsuitable for other crops

D. Imports raw materials for palm oil industry

Which of the following sets fully represents factors of production?

A. Sunlight, machinery, man, land

B. Land, water, weather

C. Money, market, middlemen

D. Land, labour, capital, enterprise, technology

Which of the following countries is not a member of the Economic Community of West African States?

A. Sudan

B. Gambia

C. Togo

D. Nigeria

Oligopoly means _________

A. single buyer in the market.

B. few buyers in the market.

C. few sellers in the market

Table:
Use the table below to answer the question below;The international production set for Nigeria and Austria is; The Opportunity cost ratio tor cocoa and lace Tor Austria and Nigeria is_______

A. 1.5:2

B. 2:2

C. 2:1.5

D. 0.5:1.5

Table:
Use the table below to answer the question below;The international production set for Nigeria and Austria is; From the table, it can be deduced that_______

A. Nigeria should produce cocoa and lace

B. Nigeria can benefit from producing lace only

C. Austria should produce lace and Nigeria should produce cocoa

D. Austria should produce cocoa and lace

The PAYE ( Pay As You Earn) in Nigeria is an example of ______

A. Flat rate Tax

B. Community tax

C. Regressive tax

D. Progressive tax

A good measure of the standard of living usually used for international comparison is_______

A. Per capita income (PCI)

B. Gross national product (GND)

C. Net national income (NNI)

D. Gross domestic product (GDP)

What is the most important factor influencing the location of the iron and steel industry at Ajaokuta?

A. Availability of labour in the area

B. Availability of power

C. Nearness of raw material

D. Access to transport facilities

The Power Holding Company of Nigeria (PHCN) is a ________

A. Public limited company

B. Private authority

C. Public Corporation

D. Public Liability company