2018 - JAMB Economics Past Questions and Answers - page 8

Want may be defined as insatiable desire by human beings to own goods or services that give satisfaction.

Mortgage banks are financial institutions that specialize in granting loans to individuals and corporate bodies for building purposes

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.

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.

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