Which of the following is NOT a major role of OPEC in production, and marketing of petroleum?
Coordinating and unifying petroleum policies of member countries
Ensuring efficient and regular supply of oil to the two market
Raising the revenue of member countries from oil through price increase
Refining of petroleum products in member countries
Stabilizing oil prices putting a production ceiling
Correct answer is D
No explanation has been provided for this answer.
Favourable
In equilibrium
Perfect
Unfavourable
Uniform
Correct answer is D
No explanation has been provided for this answer.
The basic economics problem of what to produce arises as a result of
Competing demands for scarce resources
Excessive supply
The availability of too many experts
The failure of the price system
The reduction of poverty
Correct answer is A
No explanation has been provided for this answer.
The main industrial cities in Nigeria are
Ikeja, Kano, Onitsha and Port-Harcourt
Kaduna, Dutse, Ogbomoso and Calabar
Kano, Ilesa, Vadeikya and Afikpo
Maiduguri, Ikote Ekiti, Moniya and Akungba
Mokwa, Ijebu-ode, Warri and Gummel
Correct answer is A
No explanation has been provided for this answer.
Demand for labour depends on the following factors EXCEPT
Number of industries/enterprises
Nature of industries/business enterprises
Price of labour
Demand for labour output and prices
The period of training
Correct answer is E
No explanation has been provided for this answer.