- 1. The group of countries in the South east of Asia whose economies are referred to as Asian Miracle is
A) ASEAN
B) America
C) China
D) Asian Tiger
- 2. The Japanese Miracle refers to Japan’s phenomenal economic recovery following the devastation of the_____
A) Crisis
B) World War I
C) Civil War
D) World War II
- 3. The period from 1960 to 1970 Japan experienced
A) double digit growth
B) recession
C) unemployment.
D) inflation
- 4. The value that is added into a company by an employee is known as______
A) capital
B) developmental capital
C) physical asset
D) human capital
- 5. Physical capital is also known as
A) labour
B) humans
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 tangible
B) It requires motivation
C) it is mobile
D) It has feelings
- 8. The departure or emigration of individual with technical skills or knowledge from one country to another is known as
A) emigration
B) travelling
C) brain drain
D) mobility of labour
- 9. All are factors responsible for brain drain except
A) political instability
B) social environment
C) marriage
D) poor opportunity
- 10. Where in Nigeria was petroleum first discovered in commercial quantity?
A) Ogoja
B) Kaduna
C) Oloibiri
D) Enugu
- 11. Which company first discovered petroleum in commercial quantity in Nigeria?
A) Agip
B) Shell BP
C) Butman
D) Gulf
- 12. The major foreign exchange earner for Nigeria is _______
A) Agriculture
B) sports
C) Petroleum
D) Tourism
- 13. The industry concerned with conversion of raw material into finished goods is
A) conversion
B) manufacturing
C) power
D) construction
- 14. An example of manufacturing industry is
A) road construction
B) banking
C) shoe making
D) service
- 15. The service industry is also known as the ………industry.
A) tertiary
B) construction
C) mining
D) processing
- 16. The exchange of goods and services across different countries can be described as …………
A) Bi-lateral trade
B) multilateral trade
C) national trade
D) home trade
- 17. The rate at which a country’s export is exchanged for her import is known as ………..
A) Terms of Trade
B) Current balance
C) Balance of Trade
D) Visible balance
- 18. International trade and domestic trade are similar in all aspect except that………….
A) Transportation by land, water and air is involved
B) Goods are exchanged
C) Services are exchanged
D) The same currency is used as medium of exchange
- 19. A country’s Balance of payment is grouped into all the following parts. Except
A) Physical Account
B) Monetary movement Account
C) Capital Account
D) Current Account
- 20. ________is a market where short term securities are traded in
A) money market
B) short term market
C) monopoly market
D) capital market
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