2018 - JAMB Economics Past Questions and Answers - page 8
Human wants are insatiable because wants are____________
Want may be defined as insatiable desire by human beings to own goods or services that give satisfaction.
Mortgage banks give loans to investors on a long term basics to_____________
Mortgage banks are financial institutions that specialize in granting loans to individuals and corporate bodies for building purposes
The form of capital that is required for the day-to-day running of production activities is called?
Which of the following business organization is allowed to raise capital by sales of shares to more than twenty people?
Public Limited Liability Company is defined as one which allows the public to subscribe for its shares. The number of shareholder range from seven to infinity, however, owners must be at least seven.
Utility is the satisfaction derived from____________
Utility is the satisfaction that a consumer derives from consuming a commodity or service at any particular time.
The main concern of economists is to________-
The formation of cartels or monopolies in other to obtain better bargaining or deals from other countries is characteristic of which of the following?
If the pass mark was 40, how many students passed the examination?
The Economic Commission for Africa was set up by the_________
The economic commission for Africa (ECA) also known as the United Nations Economic Commission for Africa was established in 1958 with its headquarters in Addis Ababa, Ethiopia. It is an organ of the United Nations Organization (UNO). Its major aim is to promote the social and economic development of Africa.
The reward for capital is___________
Capital is the man made wealth or goods used to produce other goods and services such as cash, machine, buildings, motor vehicles, raw materials etc. The reward on capital such as these is interest