The theory of absolute advantage was propounded by
Adam Smith
David Ricardo
Irving Fisher
JB Kynes
Thomas Malthus
Correct answer is A
No explanation has been provided for this answer.
The function muv/muz = py/pz represents
Consumer’s average utility level
Diminishing marginal utility
Increasing marginal utility
Marginal theory of price
Utility maximization
Correct answer is E
No explanation has been provided for this answer.
The first oil refinery in Nigeria was established at
Alesa Eleme
Araromi
Kaduna
Oloibiri
Warri
Correct answer is D
No explanation has been provided for this answer.
Which of the following is NOT a feature of land?
Free gift of nature
Fixed in supply
Geographically immobile
Returns on land is wages
Subject to law of diminishing returns
Correct answer is D
No explanation has been provided for this answer.
If the price Index of export is 140% and import is 200%, what is
60
70
100
140
280
Correct answer is B
No explanation has been provided for this answer.