The additional satisfaction derived from the consumption of one or more unit of a good is called

A. marginal products

B. marginal utility

C. marginal revenue

D. marginal cost

When the total products is at its maximum marginal products is

A. increasing

B. positive

C. negative

D. zero

Marginal cost can be derived from the

A. total product

B. total revenue

C. total cost

D. average fixed cost

The market supply curve slopes upwards from left to right indicating that

A. at a lower price more is supplied

B. two commodities can be supplied at the same time

C. at a lower price, less is supplied

D. producers pay high taxes

The term underpopulation refers to a situation where the population is

A. disperesed over the country

B. small in relation to available resources

C. greater than the available resources

D. concentrated in a few areas

West African countries experience rapid population growth due to

A. existence of birth control clinics

B. early marriages

C. adequate sex education in schools

D. late marriages

Which of the following could be used to measure the efficiency of labour?

A. education and training

B. rate of inflation

C. level of unemployment

D. input-output ratio

Which of the following is necessary for the survival of small firms in West Africa?

A. acess to loand for development

B. inadequate collaterals for bank loans

C. government assistants in form of loans and tax holidays

D. high transportation cost

A normal demand curve slopes

A. downward from left to right

B. upwards from left to right

C. downwards from right to left

D. upwards from the origin

If the quantity demanded of a commodity increases from 20 to 30 units where there is an increase in price from 4naira to 5 naira, the elasticity of demand is

A. 0.0

B. 1

C. 2

D. 5