1995 - JAMB Economics Past Questions and Answers - page 2
11
In a joint stock company, preference shareholders are those who receive?
A
high dividends when profits are high and little or nothing when profits are low
B
a fixed rate of individend and have the first claim on the net profits of the company
C
the remaining profits after all other shareholders have been paid
D
dividends quarterly when others receive annually
correct option: b
Users' Answers & Comments12
The major reason for the survival of small shops despite competition from large business enterprises is because of?
A
the small capital outlay involved
B
regularity and constant supply of commodities by them
C
their local srvices and longer hours of operation
D
their level of managerial competence
correct option: c
Users' Answers & Comments13
One of the major advantages of public enterprises is that?
A
they are highly subsidize
B
they are the largest employers of labour
C
their operations are highly standardized
D
they take prompt decisions and actions
correct option: a
Users' Answers & Comments14
When public enterprises become commercialized, it means that?
A
the product of the enterprises are further subsidized
B
they are expected to operate with the primary aim of making profits
C
the government has decided to divest itself of such enterprises
D
the staff of the enterprises will be laid off
correct option: b
Users' Answers & Comments15
Which of the following statement are TRUE of agriculture in Nigeria? (i) it provides food for the growing population?
(ii) A large proportion of the population is engaged in agriculture.
(iii) Agriculture products are used as raw materials by the local industries.
(iv) It serves as sources of heavy equipment to local industries.
(ii) A large proportion of the population is engaged in agriculture.
(iii) Agriculture products are used as raw materials by the local industries.
(iv) It serves as sources of heavy equipment to local industries.
A
i and ii only
B
i,ii and iii only
C
i, ii and iv only
D
ii and iii only
correct option: b
Users' Answers & Comments16
In recent times, agriculture in Nigeria tends to lose its vital labour force as a result of?
A
lack of an effective agricultural policy
B
employment opportunities in the oil sector
C
rural-urban drift
D
low prices of agricultural products
correct option: c
Users' Answers & Comments17
The government can influence the price of agriculture products by?
A
fixing minimum prices when agricultural output is low
B
fixing maximum prices in years of bumper harvest
C
the use of buffer stock and stabilization funds
D
paying all farmers producing identical crops a uniform amount of money
correct option: c
Users' Answers & Comments18
The crucial factors which determine the location of petroleum refineries in Nigeria are availability of raw materials and?
A
capital
B
political consideration
C
nearness to source of power
D
labour
correct option: b
Users' Answers & Comments19
Infant industries denote industries which?
A
are introducing new products
B
are too young to compete in the world market
C
produce baby food and mother care products
D
are allowed time enough to mature for recognition
correct option: b
Users' Answers & Comments20
When compared with a labour-intensive industry, a capital-intensive industry employs more?
A
workers than capital
B
workers than machinery
C
raw materials than capital
D
machinery than workers
correct option: d
Users' Answers & Comments