Study and practice Economics past questions with answers and detailed explanations. Then test your knowledge using our interactive CBT practice platform and prepare confidently for your upcoming examinations.
The joint ventures operating in the Nigerian oil industry are between?
Athe NNPC and independent marketers
Bthe NNPC and multinational marketers
Cthe NNPC and producer marketers
Dmultinational corperations and independent marketers
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Question 12
jamb1993
Which of the following can be considered as being outside the objectives of public finance?
AThe allocation of resources to various sectors of the economy
BThe objective of even distribution of income and wealth
CThe achievement of economic stability
DThe deregulation of the economy
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Question 13
jamb1993
Economic development is distinguishable from economic growth because the former?
Ais not concerned with growth parameters
Baffects only the poor people
Calso includes an efficient distribution of economic growth
Dis an increase in the production of goods and services
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Question 14
jamb1993
The sum of N80,000 is deposited in a bank and the cash ratio of the banking system is 10%. calculate the sum of money the bank can create from the deposit?
AN 100 000
BN 800 000
CN 1000 000
DN 8000 000
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Question 15
jamb1993
Which of the following programmes in the monetary sector is aimed at enhancing the banking habit of the rural areas?
AThe deregulation of the banking system
BThe increase in the number of merchant banks
CThe community banking scheme
DThe deregulation of interest rate
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Question 16
jamb1993
The money market is a financial market that specializes in the provision of?
Ashort-term loans
Bmedium-term loans
Clong-term loans
Dventure capital for development projects
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Question 17
jamb1993
Since the mid-1980s, the most disturbing development in the industrial sector in Nigeria is?
Alabour intensity
Bcapital intensity
Cpoor technology
Dcapacity under-utilization
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Question 18
jamb1993
One of the most important factors that should be considered in the location of an industry is?
Anearness to the financial centre
Bassured patronage by government functionaries
Cavailabilities of inputs and market
Davailabilities of adequate security
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Question 19
jamb1993
The most popularly adopted industrialization strategy in West Africa is?
Aimport substitution
Bexport promotion
Cports development
Dinfant industries protection
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Question 20
jamb1993
On the basis of the contribution to employment, the most important economic sector in West African is?
Aindustry
Bagriculture
Cconstruction
Dcommerce
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Question 21
jamb1993
Wheat grows best in?
Atropical climate
Btemperate climate
Cequatorial climate
Dhot desert
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Question 22
jamb1993
A modern corporation is owned by?
Adebenture holders
Bordinary shareholders
Cpreference shareholders
Dcreditors
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Question 23
jamb1993
A public liability company is different from a private limited company because i?
Ais registered with the registrar of companies
Bis a legal entity
Ccan raise capital of size by way of loans
Dcan sell shares in the stock exchange
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Question 24
jamb1993
a debenture share entitles its holder to?
Aparticipate in the annual general meeting of the company
Bshare in the dividends declared
Crecieve a fixed interest on sums invested
Dhave a representative on the Board of Directors
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Question 25
jamb1993
Production is said to be completed when?
Agoods and services reach the consumers
Bprices of goods and services are determined
Cgoods are sold to the wholesaler
Dgoods are packaged
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Question 26
jamb1993
Which of the following functions does the wholesaler perform to save the retailer burden of carrying large stocks?`
i Breaking the bulk
ii Packing the goods in smaller containers
iii Providing vital information
iv Grant credit facilities
Ai and ii
Bi and iv
Cii and iii
Di, ii, iii and iv
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Question 27
jamb1993
At equilibrium, one of the distinctive features of monopoly compared with perfect competition is that in the former?`
Aprice is always equal to marginal cost
Bsupply is always equal to demand
Cprice is always higher than marginal cost
Dthere are always many buyers and many sellers
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Question 28
jamb1993
If the price elasticity of demand for a certain commodity is less than unity, then?
Aan increase in the price of the commodity will raise the total revenue of the producer
Ban increase in price leaves the total revenue unchanged
Ca decrease in price raises the total revenue of the supplier
Da decrease in price leaves the total revenue constant
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Question 29
jamb1993
If the equilibrium price of a certain commodity is N120.00 and the government fixed its price at N110.00, the supply will be?
Agreater than the equilibrium supply
Bsmaller than the equilibrium supply
Cthe same as the equilibrium supply
Da determinant of the market forces of equilibrium
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Question 30
jamb1993
If profit maximization is assumed to be the objective of a business enterprise, labour must be paid a wage rate equal to the?
Amarginal revenue of the enterprise
Bmarginal revenue product of labour in the enterprise
