2020 - JAMB Economics Past Questions and Answers - page 3

21

Fiduciary issue is that part of?

A
the issue of notes backed entirely by gold
B
a country's currency that is not negotiable
C
the issue of notes not backed by gold
D
a country's currency officially issued
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22

The type of business finances that entitles the holder to a fixed rate of dividend is?

A
preference stock
B
common stock
C
debentures
D
bank loan
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23

A company's expenditure on raw materials is regarded as?

A
explicit cost
B
implicit cost
C
prime cost
D
average cost
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24

Firms are often set up close to each other in order to take advantage of?

A
supply of skilled labour
B
agglomeration economies
C
internal economies of scale
D
external economies of scale
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25

A situation in which a commodity is sold abroad below its cost of production in the home country is known as?

A
dumping
B
counter trade
C
bilateral trade
D
C. trade liberalization
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26

The problem of conducting census include 

A
high rate of rural-urban migration
B
poor geographical distribution of population
C
high birth rate in the country
D
poor town planning in urban areas
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27

The factor of production that has the highest degree of mobility is? 

A
land
B
labour
C
capital
D
entrepreneur
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28

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 agricultural sector
C
rural-urban drift
D
low prices of agricultural products
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29

The most important goal of OPEC is to?

A
present a united front for the purpose of raise prices of crude oil
B
bring unity among the petroleum exporting countries
C
ensure political stability among member states
D
ensure that rules on quota production are strictly followed
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30

Plywood industries are often located near the source of?

A
finance
B
labour
C
power supply
D
raw materials
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