2016 - JAMB Economics Past Questions and Answers - page 5
41
The price elasticity of supply of perishable goods is_________?
A
Elastic
B
Unitary
C
Inelastic
D
Zero
correct option: d
Users' Answers & Comments42
In Nigeria, most agricultural policies are aimed at______?
A
Ensuring equitable distribution of income
B
Liberalizing all sectors of the nation's economy
C
Encouraging the development of manufacturing sector
D
Achieving self-sufficiency in food production
correct option: d
Users' Answers & Comments43
One major problem encountered by ECOWAS is_______?
A
Conflict of interest among members
B
Increasing population
C
Weakness in the trade relationship
D
Language barrier
correct option: a
Users' Answers & Comments44
One of the characteristics of private enterprises is ______?
A
Provision of welfare to the citizens
B
That tax payers bear all the risks
C
Public ownership of shares
D
Individual funding of business activities
correct option: d
Users' Answers & Comments45
The concept of marginal utility indicates the relationship between utility and _________?
A
Price
B
Satisfaction
C
Cost
D
Revenue
correct option: b
Users' Answers & Comments46
In Nigeria, unemployment can be minimized through______?
A
Diversification of the economy
B
Strict immigration law
C
Paying unemployment benefits
D
Restrictive fiscal policy
correct option: a
Users' Answers & Comments47
The demand for two or more commodities to satisfy a particular want is _____?
A
Derived
B
Composite
C
Competitive
D
Joint
correct option: d
Users' Answers & Comments48
A
Fairly inelastic
B
Perfectly inelastic
C
Unitary elastic
D
Perfectly elastic
correct option: c
Users' Answers & Comments49
One of the factors affecting change in demand for a commodity is the _______?
A
Supply of the commodity
B
Availability of the substitutes
C
Price of the commodity
D
Technical know-how
correct option: c
Users' Answers & Comments50
Public ownership of productive factors is a feature of_______?
A
Socialism
B
Capitalism
C
Feudalism
D
Mixed economy
correct option: a
Users' Answers & Comments