Development plans in Nigeria have deviated from their targets due to

A. lack of manpower

B. political instability

C. high population growth rate

D. brain drain in the country

E. inadequate land

The level of economic development is low in Nigeria because

A. planning has nopractical relevance

B. of the pattern of the consumers' spending

C. the country is too large

D. of ineffective plan implementation

E. there is no unique planning model

The stability of Nigerian economy depends mainly on the export price of

A. groundnut

B. cotton

C. cocoa

D. mineral oil

E. palm kernel

Which of the following countries is a major trading partner of Nigeria?

A. Britain

B. Canada

C. Japan

D. Germany

E. China

The instrument used in many countries to restrict imports includes

A. high tarrifs

B. price index

C. excise duties

D. bank rate

E. subsidies

The economic system in which the decision s about what to produce , how to produce and for whom to produce are made by private firms is called

A. socialism

B. Welfarism

C. communism

D. capitalism

E. traditionalism

A major setback in any mixed economy is

A. that is combined both the capitalist and socialist systems

B. the freedom of choice in the production and consumption of goods and services

C. that government intervenes to secure full utilization of resources

D. that economy decisions are determined by market forces

E. that the absence of profit motive in the public sector may reduce incentives for hard work