2023 - JAMB Economics Past Questions and Answers - page 5
41
Â
Public corporation is financed with
A
Capital raised from shareholders
B
Tax payer's money
C
Capital raised from stock exchange
D
Capital contributed by owners
42
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Which of the following shows why individual demand curve for a good usually slopes downward from left to right?
A
More of commodities are offered for sale at a lower than higher prices
B
Marginal utility falls as consumption increases
C
The higher the price, the higher the quantity offered for sale
D
Prices are usually falling when demand is low
43
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The law of supply states that, other things being constant, as price increases
A
Supply increases
B
Supply decreases
C
Quantity supplied increases
D
Quantity supplied decreases
44
Which of the following Age group belongs to active Labour force?
A
15 - 25yrs
B
0 - 17yrs
C
65yrs and above
D
18 - 64yrs
45
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The economies of West African Countries depend majorly on
A
primary product
B
secondary product
C
tertiary product
D
manufacturing product
46
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The number of people who are qualified to work and who offered themselves for employment are called
A
mobility of labour
B
working population
C
migrant labour
D
labour turnover
47
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An industry is
A
A group of firms producing differentiated products
B
A group of firms producing distinct commodities
C
A group of firms producing related goods
D
A group of firms producing unrelated goods
48
From the graph shown, Point "E" shows ___
Â
A
product inefficiency
B
product efficiency
C
productive efficiency
D
allocative efficiency
49
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The type of price elasticity of demand for a commodity whose quantity demanded remain unchanged despite changes in the price is
A
Perfectly elastic
B
Infinitely elastic
C
Inelastic
D
Perfectly inelastic
50
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The following are economic agents in any economy EXCEPT
A
Central Bank
B
House hold
C
Firm
D
Government
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