The first commercial oil well in Nigeria was discovered in
1938
1951
1956
1958
1961
Correct answer is C
Oloibiri Oilfield was discovered on Sunday 15 January 1956 by Shell Darcy. It was the first commercial oil discovery in Nigeria.
The demand for a commodity for the sake of what it will yield is
Competitive demand
Composite demand
Effective demand
Joint demand
Correct answer is A
No explanation has been provided for this answer.
The most generally accepted definition of economics is
An inquiry into the nature and causes of the wealth of nations
The science of material welfare
The science which studies human behavior as a relationship between ends and scarce means which have alternative use
The science that treats phenomena from the stand point of price
The practical science of production and distribution of wealth
Correct answer is C
Lionel Robbins (1932) developed implications of what has been termed "perhaps the most commonly accepted current definition of the subject": Economics is a science which studies human behavior as a relationship between ends and scarce means which have alternative uses.
Development of black market
Increased earning and higher profit
Increase in employment
Increase investment
Redistribution of income
Correct answer is C
No explanation has been provided for this answer.
To finance a deficit balance of payment, a country may decide to
Borrow from abroad
Increase its foreign investment
Privatizes its economy
Reduce domestic consumption
Secure more factor of production
Correct answer is C
No explanation has been provided for this answer.