Take Quiz
-
Question 1 : Which of the following is not a feature of the sole proprietorship business?
the sole proprietor provides the capital to start the business
there is unlimited liability
continuity is doubtful at the death of the proprietor
decision is taken by board of directors
Question 2 : A firm is said to be a public joint-stock company when it
is owned by the government
operates as a public corporation
is a limited liability company
sells its shares to members of the public
Question 3 : One of the advantages of a sole proprietorship is that
risks are unlimited
technological progress is often out of reach
shares and stocks can be issued to raise funds
initiative can be used in all cases
Question 4 : One of the arguments against the presence of middlemen in the distribution of goods in West Africa is?
the tendency to hoard and smuggle
cause increases in the prices of commodities
helps in keeping prices stable
are commissioned agents
Question 5 : A person who buys in bulk and sells in bits is a
manufacturer
retailer
sales representative
distributor
Question 6 : Which of the following is the normal channel by which commodities reach final consumers?
manufacturer –wholesaler –agent --retailer –consumer
manufacturer –wholesaler –retailer –consumer
manufacturer –wholesaler –sales representative –retailer –consumer
manufacturer –wholesaler—retailer –agent –consumer
Question 7 : Which of the following is not correct?
population refers to the number of people living in a place
the population of a place is not static
population is affected by the amount of money in circulation
population is known through census
Question 8 : Distribution is part of production because it
makes goods and services available to the final consumers
links the consumers with the producers
transports the goods from place to place
offers employment to people
Question 9 : The reward for a debenture holder of a public company is
interest
dividend
rent
return
Question 10 : The grouping of a population into male and female is known as the
geographical distribution
man-woman distribution
occupational distribution
sex distribution
Question 11 : Which of the following hard currencies is usually used in the pricing of oil at the world market particularly by the organization of petroleum exporting countries (OPEC)? The
US dollar
Japan countries
Pound Sterling
Deutschemark
Question 12 : Limited liability in Economics means that
a share holder’s liability in the the event of debt or bankruptcy is limited to the amount he has invested
all shareholders’ liability for the debt company is dependent on how much he is owing
shareholders cannot be asked to pay for the debts of the company
shareholders try to ensure that only a small proportion of the debt comes to them
Question 13 : The wholesaler provides all the following services to the manufacturers except
warehousing
financing production
after sales services
marketing products
Question 14 : Distribution involves the
movement of raw materials to production centres
transfer of goods and services from production centre to consumers
transfer of goods and services from one market to another
movement of goods and services by middlemen to urban centres
Question 15 : When a business has unlimited liability it means
the owners are not responsible for all its financial debts
all its profits can be taxed by the government
the owners are responsible for all its financial debts
it ceases to exist at the death of one of its owners
Question 16 : Which of the following is not an agent of distribution?
wholesalers
retailers
consumers
cooperative societies
Question 17 : One of the greatest demerits of the middle men in Nigeria is that they
increase the prices of goods and services at will
sell in small units only
store goods in ware houses there are not spacious enough
sell credit to retailers only
Question 18 : Which of the following functions do retailers perform in an economy?
production
exchange
hoarding
distribution
Question 19 : Devaluation means
a reduction in the value of the national currency
a reduction in the purchasing power of foreign currencies
a reduction in the value of the national currency relative to foreign currencies
an increase in the value of the national currency
Question 20 : Which of the following is the approximate working age in Nigeria?
1-15
18-65
30-40
65 and above
Question 21 : In a sole proprietorship business,decisions are made by the
government
owner
share holder’s conference
board of directors
Question 22 : Which of the following is a public corporation
National Oil and Chemical Marketing Co plc
union bank of Nigeria plc
Volkswagen of Nigeria
Nigerian ports of authority
Question 23 : Which of the following is not a reason why people migrate from one place to another?
to find jobs and improve their standard of living
to live in a more suitable climate
to buy foreign goods for sale in their country
for the sake of change and adventure
Question 24 : Which of the following business establishment is not motivated mainly by profits ?
public limited companies
private limited companies
holding companies
cooperatives
Question 25 : Production is not complete until the
goods get to wholesalers
goods reach the final consumers
factors of production are combined
goods are ready for transportation
Question 26 : Public corporations in West Africa are set up to
make maximum profit
provide jobs for the people
show that the government can compete favourably
provide welfare services for people
Question 27 : Which of the following is not an advantage of government ownership of enterprises?
more capital is provided
pricing policy may be in the interest of consumers
infrastructure are rapidly developed
government workers may be indifferent towards the public
Question 28 : Mono-product economies are those that
produce only raw materials
produce one main commodity
live on the exportation of their raw products
specialize in agricultural industries
Question 29 : To the economist, a stock of goods existing at a particular time and conforming to certain requirements such as having utility, money, value and being limited in supply is known as
wealth
products
commercial goods
durable goods
Question 30 : Which of the following is not a problem of distribution of goods in Nigeria?
poor communication network
inadequate storage facilities
inadequate market
ignorance of consumers
Question 31 : The decision on what to produce is a problem in
a planned economic system only
a free enterprise system only
all economic systems
a democratic socialist economy only
Question 32 : At optimum population level, a country has its
maximum population
ageing population
lowest death rate
highest output
Question 33 : Which of the following does not require the use of information from census
allocating central government revenue among states or regions
providing adequate social amenities and services in the state or regions
controlling geographical mobility of labour among the states or regions
planning for development in the states or regions
Question 34 : The ownership of a public limited company is made up of
two to twenty persons
a minimum of seven share holders
a minimum of fifty and maximum of one hundred shareholders
a maximum of fifty shareholders
Question 35 : The natural growth rate of a population is the
death rate plus net migration
rate of migration divided by birth rate
birth rate minus death rate
sum of birth rate and net migration
Question 36 : A stock exchange is a market that
deals with the exchange of commodities
ideals with the purchase and sale of securities
exchanges treasury bills for bills of exchange
sells foreign exchange
Question 37 : Hoarding in distributive trade leads to
artificial scarcity of goods
production of inferior goods
non-availability of commodities
increase in supply of goods
Question 38 : Which of the following would not increase the population of country?
an increase in birth rate
a decrease in death rate
better medical services
emigration
Question 39 : In a public company, entrepreneurial functions are performed by the
workers
shareholders
chairman
board of directors
Question 40 : The reward for shareholders of a company is
wages
interest
dividends
profits
Question 41 : Economics is the study of the wealth of nations. This definition was given by
robins
smith
ulbrich
samuelson
Question 42 : The acronym “plc” is used to represent
public limited company
private limited
partnership
sole proprietorship
Question 43 : The document that is given by the registrar of companies to a duly registered company is called?
share certificate
dividend
trading certificate
prospectus
Question 44 : The smallest unit in the capital structure of a company is called?
dividend
debenture
share
stock
Question 45 : The instrument with which a joint stock company borrows money from the public is
debenture
prospectus
dividend
none of the options above
Question 46 : The number of birth per thousand people in a year is refered to as
death rate
immigration rate
birth rate
emigration rate
Question 47 : The movement of people into a country from another is known as
immigration
emigration
migration
population
Question 48 : The movement of people out of a country to another is known as
immigration
emigration
migration
population
Question 49 : Infants and adolescents in a country fall under what category of population?
independent
dependent
working
optimum
Question 50 : When the resources of a country is more than the total number of people, it is said to be
optimum populated
over populated
under populated
none of the above
Time Over ..... Thank you for taking Quiz. To get result, please click on the GET RESULT button below
Enter Your name Here :
Enter Your Email Here :
Please Wait while we are generating your result ...
✕Holiday Assignment Is Now Available!!!