₦airaland Forum

Umartins1:
You sound immature. Truth is bitter.

Godwin10:
Ok, settle the differences with her on some other private social media platform biko... I know you must be pissed with whatever she has done to you, that's why you are venting your anger here but we do not even know what happened and I don't think I or other humble followers of this thread wants to know. The story is just one-sided, no speech yet from the other party, why not just settle bro and stop using foul languages. You are a man and I trust you know the right thing to do... **Chop Knuckle**

Emodeee:
U sound mature? Ohkies.


Ion know y u r defending gals wey u no go ever taste their puna. U can be fortunate to see them in real life though.

Umartins1:
Bro, be composed.

1. Suppose that the equilibrium price of an article is N5.00 but the government fixes the price by law at N4.00, the supply will be
A.The same as equilibrium supply
B.Greater than equilibrium supply
C.Less than the equilibrium supply
D.Determined later by government
E.None of these


2. If 100 units and 150 units of commodity Y are supplied at #50 at different times, it means that there is
A. Change in quantity supplied
B. Change in demand
C. Change in supply
D. Change in quantity demanded.


3. When elasticity is zero, the demand curve is
A.Perfectly elastic
B.Perfectly inelastic
C.Concave
D.Downward slopping
E.Circular


4. The following is NOT a reason for the existence of small firms
A.Scale of production is limited by size of the market
B.Expansion brings diminishing returns
C.Large firms can carter for wide markets
D.Small firms can provide personal services
E.All of the above

5. A shift in the production possibility frontier could result from
A. The need to satisfy wants
B. Scarcity and the need for choice
C. Scarcity of resources
D. Non-availablility of factors of production


6. A financial institution established for the purpose of providing specialzed services like acceptance of bills of exchange and equipment leasing is known as
A.Merchant Bank
B.Development Bank
C.Central Bank
D.Insurance Company

7. Which of the following functions of money is mostly affected during inflation?
A.Medium of exchange
B.Unit of Account
C.Store of value
D.Standard of deferred payment


8. The difference between personal income and personal disposable income is
A. Personal savings
B. Personal income tax
C. Investment income
D. Consumption expenditure


9. Which of the following measures will not encourage industrialization in West Africa?
A.Taking over of all forms of industries by the government
B.provision of social infrastructure
C.Giving tax incentives, especially to infant indudustries
D.Using tariffs to discourage the use of imported items


10. In an inflationary period which of the following is not true

A. Aggregate real demand exceeds aggregate real supply
B. Money supply increases
C. More money runs after a limited quantity of goods
D. Wages rice simultaneously with price
E. The purchasing power of money diminishes


11. The long - run average cost curve is made up of several short-run
A. marginal and average cost curves
B. average cost curves
C. average variable cost curves
D. average variable and total cost curves

12. Price fluctuation is a feature of
A.common market
B.imperfect market
C.pure monopoly
D.perfect market


13. A government that wants to get more revenue will increase the tax on commodities with a
A.high price elasticity of demand
B.low price elasticity of demand
C.high income elasticity of demand
D.low income elasticity of demand

14. Why would an individual increase his level of consumption during inflationary periods?
A.The real value of any amount saved falls over time
B.Interest rates are generally low
C.There are varieties of goods to buy
D.Wages and salaries stagnate during inflation


15. The type of monopoly that develops as a result of uneven distribution of resources is called
A.legal monopoly
B.natural monopoly
C.state monopoly
D.international monopoly

16. When depreciation is deducted from Gross National Product, the result is
A.total national income
B.gross domestic product
C.net national product
D.net domestic product

17. In the firm's production process, marginal cost
A. falls continuously throughout
B. falls and later rises
C. remains unchanged throughout
D. rises and later falls

18. If a firm's price is less than average cost but more than part of variable cost, the firm is covering
A.all of its fixed cost and variable cost
B.all of its fixed cost and part of variable cost
C.all of its variable cost and part of fixed cost
D.part of its fixed cost and part of varible cost


19. Where a commodity takes an insignificant proportion of the consumer's income, demand for it will be
A. unitary elastic
B. price inelastic
C. fairly elatic
D. income inelastic

20. The demand curve for a commodity is downward sloping because the consumer will pay
A. less as the marginal utility falls
B. more as the marginal utility falls
C. less as the total utility falls
D. more as the average utility falls

The investment expenditure of an economy changes by #2million and MPC is 0.75.

21. What is the change in income?
A. #0.5m
B. #1.5m
C. #2.6m
D. #8.0

22. The multiplier is
A. 8
B. 4
C. 3
D. 2


23. The long-run average cost curve touches to the short-run average cost curves at the
A. Minimum points of all short-run average cost curves
B. Declining points of all short-run average cost curves
C. Minimum point of only one of the short-run cost curves
D. Rising points of all short-run average cost curves.


24. The invisible hand promotes the interests of
A. Consumers
B. Society
C. Government
D. Producers

25. If all factors are variable in the long run, firms will experience
A. Decreasing returns to scale
B. Increasing returns to scale
C. Diminishing returns
D. Economies of scale

26. Movement along the same demand curve is caused by

A. Changes in price of the good
B. Changes in mode of production
C. Changes in price of other goods
D. Changes in taste and fashion


27. The burden of tax on commodity X whose price elasticity is 0.25 will fall on
A. Producer
B. Consumers
C. Both producer and consumers
D. Wholesaler

28. When the average physical product curve is rising, the marginal physical product is
A. Below it
B. Above it
C. Falling
D. Zero


29. At equilibrium, one of the distinctive features of monopoly compared with perfect competition is in the former

A. There are always many buyers and many sellers
B. Price is always higher than Marginal cost
C. Supply is always equal to demand
D. Price is always equal to Marginal cost


30. Social overhead capital refers to
A. Capital formation
B. Balanced growth
C. The building of infrastructures
D. Gross investment.

Emodeee:
D fool is nt even using her picture. Dats one of the features of ugly girls.

Umartins1:
Ok....


Touch Ada96 not.

Umartins1:
Beauty lies in the eyes of the beholder. Meanwhile, her brilliance is what attracts me.

Umartins1:
Ok....


Touch Ada96 not.

luckidoc:
[color=#990000]

lordkvng:
physics question...

a waterfall has a height of 50metre, considering 1kg of water and the energy it loses. estimate the difference in temperature between the top and bottom of the waterfall

Emodeee:
Subtle advice, thanks.



Where is d other party? No where to be found. She no dey ever reply me, na one of the things wey dey vex me be dat.

Godwin10:
Ok, settle the differences with her on some other private social media platform biko... I know you must be pissed with whatever she has done to you, that's why you are venting your anger here but we do not even know what happened and I don't think I or other humble followers of this thread wants to know. The story is just one-sided, no speech yet from the other party, why not just settle bro and stop using foul languages. You are a man and I trust you know the right thing to do... **Chop Knuckle**

Emodeee:
I av no issues with ade96, we are cool bt pukka36 is doing anyhow.

Umartins1:
As you wake up and log in, be ready to tackle my Economics.....

lordkvng:
una get time

Emodeee:
Subtle advice, thanks.



Where is d other party? No where to be found. She no dey ever reply me, na one of the things wey dey vex me be dat.

Umartins1:
As you wake up and log in, be ready to tackle my Economics.....

luckidoc:
emodee I heard the doctor said the accident affected both part of ur cerebrum...that means u will always be senseless...pls accept our heart felt condolence on the lost of your reasoning prowess

mesoade:
i don't mean to sound offensive o, but you are stupid, just take it like that,it's the truth . . Your stupidity and immaturity beats the imagination of goats! . . . #no offence

dharay99:

I'm luvinq ds thread

[size=19pt]Emodee v$ Umartins1[/size]

[size=14pt]price 4d winner; pukka36 [/size]

Arena; This thread.
Chief Host; Godwin10.
Ref; Meeeee.

[color=#00FF00][size=16pt]1, 2, fyyyyyyyyt...... [/size][/color]

medwhite0:
hmmm.

Umartins1:
Maybe because we are on a faceless forum, you don't know who I am.


I was only telling the guy to be composed not fighting him.


I'm outta here if this is how best you guys know to make out jokes.

Umartins1:
You used Pukka36 pix as your dp and you still call her fool?

Seriously! You guys are taking this too far.

Guy, you need brain transplant.

Umartins1:
You guys are taking this joke of a thing too far.

Pukka36:
Asin ehn...too much time,as the thing start yesternyte na im I go sleep oh



Swakingdope,Bros,Migwo'...I dnt even that fool.