2000 - JAMB Economics Past Questions and Answers - page 2
11
External dis-economies of scale result from excessive growth of?
A
the whole industry
B
some sectors of the industry
C
external factors
D
internal factors
correct option: c
Users' Answers & Comments12
If a total cost curve is plotted, marginal cost can be illustrated by the?
A
slope of the tangent to the curve at any given output
B
U-shaped curve cutting the total cost curve at its lowest point
C
straight line from the origin to the mid-point of the curve
D
straight line cutting the curve at its highest point
correct option: b
Users' Answers & Comments13
The short-run equilibrium in a perfectly competitive market requires that?
A
marginal cost be equal to total revenue
B
marginal cost and marginal revenue be equal
C
costs are mutually determined by buyers and sellers
D
the marginal cost curve cuts the total cost curve
correct option: a
Users' Answers & Comments14
At the point where marginal revenue of a monopolist is equal zero, its total revenue will be?
A
falling
B
rising
C
equal to zero
D
maximum
correct option: a
Users' Answers & Comments15
A distinguishing characteristic of cooperative societies is that voting power depends on the?
A
number of shares held
B
status of the member
C
equality of members
D
management's decision
correct option: c
Users' Answers & Comments16
The concept of privatization presupposes?
A
efficiency
B
marketing trade
C
indigenization
D
foreign trade
correct option: a
Users' Answers & Comments17
One problem in the marketing of agricultural products in Nigeria is?
A
the seasonal nature of the commodities
B
high price of the commodities
C
the changing tastes of consumers
D
inadequate storage facilities
correct option: d
Users' Answers & Comments18
Increased output will cause farmers' revenue to decrease when market demand is?
A
elastic
B
inelastic
C
unitary elastic
D
perfectly elastic
correct option: a
Users' Answers & Comments19
A primary industry is concerned with?
A
extraction of resources in their raw states
B
the operation of small scale enterprises
C
the economic activities of primary producers
D
clearing and cultivation of land only
correct option: a
Users' Answers & Comments20
The slow pace of industrial growth in Nigeria can be attributed to?
A
overdependence on the oil sector
B
inadequate number of unskilled labour
C
lack of raw materials
D
inadequate infrastructural facilities
correct option: d
Users' Answers & Comments