Economics Updated on Dec 6, 2020 by Isaac InegbenehiDec 6, 2020 Welcome to Flashlearners Economics Quiz... Read Each Question Carefully And Choose The Best Answer From The Options. You May Click Here for Free Video Tutorials To Boost Your Score Or Simply Click Here To Access Thousands of Economics Questions Offline. Next To Begin...1. The exports of West African countries are mainly composed ofservicesraw materialsmanufactured goodsconsumer goods2. The imposition of high income tax by government to cut down demand is known asmonetary policyfiscal policyinternal policydevelopment policy3. The greatest disadvantange of the barter system is the need fordurabilitydivisibilityportabilitydouble coincidence of want4. The equilibrium position of a firm is attained whenMC = MRMC = ARAR = MRMC = P5. The reward of debenture holder of a public company is a fixed rateinterestreturndividendallowance6. Money supply at any point in time refers tonotes and coins onlyhoarded moneyminted moneybank notes, coins and demanded deposit7. The main item traded on a stock exchange market istreasury billstravellers chequesforeign currenciesnew shares8. The money paid per hour or week for work done is known aswage ratecostlabourbonus9. Which of the following are not agents of distributionWholesalerretailersconsumersGovernment Agencies10. Which of these factors does not cause a change in demandincomepopulationtaste and fashionprice of the commodity concerned11. The price and quanitity of crude oil gas and petrol sold to other countries by Nigeria is fixed by theOPECN.N.P.CECOWASE.C.A12. The price of a commodity is determined by theSupplierConsumerQuanity of goods demanded or suppliedinteraction of demand and supply13. All the following are specific example of indirect taxes exceptpurchase taximport dutyexport dutypoll tax14. The coefficient of price elasticity of demand is zero when demand isfairly elasticperfectly inelasticfairly inelasticunitary elastic15. The country which makes the largest contribution to IMF isThe USABritainFranceWest Germany16. Which of the following is not a member of the OPEC?indonsIranUnited Arabic EmbratesEgypt17. When the demand for a commodity is inelastic, who bears greater burden of the indirect taxThe producerThe consumerThe wholesalerThe childrenTime is Up!