- 1. The group of countries in the South east of Asia whose economies are referred to as Asian Miracle is
A) Asian Tiger
B) America
C) ASEAN
D) China
- 2. The Japanese Miracle refers to Japan’s phenomenal economic recovery following the devastation of the_____
A) World War I
B) Civil War
C) World War II
D) Crisis
- 3. The period from 1960 to 1970 Japan experienced
A) recession
B) inflation
C) unemployment.
D) double digit growth
- 4. The value that is added into a company by an employee is known as______
A) human capital
B) capital
C) developmental capital
D) physical asset
- 5. Physical capital is also known as
A) humans
B) labour
C) human capital
D) non-human capital
- 6. _______is also known as Human capital flight
- 7. One of these is not the characteristic of human capital
A) it is mobile
B) It has feelings
C) It requires motivation
D) It is tangible
- 8. The departure or emigration of individual with technical skills or knowledge from one country to another is known as
A) travelling
B) mobility of labour
C) emigration
D) brain drain
- 9. All are factors responsible for brain drain except
A) social environment
B) poor opportunity
C) political instability
D) marriage
- 10. Where in Nigeria was petroleum first discovered in commercial quantity?
A) Ogoja
B) Enugu
C) Oloibiri
D) Kaduna
- 11. Which company first discovered petroleum in commercial quantity in Nigeria?
A) Butman
B) Gulf
C) Shell BP
D) Agip
- 12. The major foreign exchange earner for Nigeria is _______
A) sports
B) Agriculture
C) Petroleum
D) Tourism
- 13. The industry concerned with conversion of raw material into finished goods is
A) power
B) construction
C) manufacturing
D) conversion
- 14. An example of manufacturing industry is
A) service
B) shoe making
C) road construction
D) banking
- 15. The service industry is also known as the ………industry.
A) processing
B) mining
C) construction
D) tertiary
- 16. The exchange of goods and services across different countries can be described as …………
A) national trade
B) multilateral trade
C) Bi-lateral trade
D) home trade
- 17. The rate at which a country’s export is exchanged for her import is known as ………..
A) Visible balance
B) Balance of Trade
C) Current balance
D) Terms of Trade
- 18. International trade and domestic trade are similar in all aspect except that………….
A) Transportation by land, water and air is involved
B) Services are exchanged
C) The same currency is used as medium of exchange
D) Goods are exchanged
- 19. A country’s Balance of payment is grouped into all the following parts. Except
A) Current Account
B) Physical Account
C) Monetary movement Account
D) Capital Account
- 20. ________is a market where short term securities are traded in
A) money market
B) monopoly market
C) short term market
D) capital market
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