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The best method of production in an under populated country is
ALabour-extensive
BLand-intensive
CCapital-intensive
DLabour-intensive
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Question 52
jamb2003
In the table above, the price of commodity y is N2 and that of x is N1 while the individual has an income of N12. Determine the combination of the two commodities the individual should consume to maximize his utility
A3y and 3x
B6y and 4x
C3y and 6x
D5y and 5x
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Question 53
jamb2003
If the country is currently producing at point Y, it can increase production of producer goods by moving to the point
AV
BW
CX
DZ
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Question 54
jamb2003
Use the production possibility curve of a country represented in the diagram above to this questions.An improvement in technology will enable the country to produce at
AV
BW
CX
DZ
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Question 55
jamb2003
The labour force of a country can be determined by examining the
Aage structure of the population
Bsex distribution of the population
Cgeographical distribution of the population
Doccupational distribution of the population
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Question 56
jamb2003
Fixing the prices of agricultural products can be a problem because of the
Aactivities of marketing boards
Bsize of agricultural exports
Cinstability of government policies
Dunpredicatable output of farmers
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Question 57
jamb2003
An important factor hindering the rapid development of the industrial sector in Nigeria is
Arural-urban migration
Bexcessive demand for finished products
Cinadequate infrastructural facilities
Dthe dominace of the oil sector
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Question 58
jamb2003
country is said to be overpopulated when
Athe resocurce are more than enough to cater for the population
Bthe size of the population is greater than the annual budget
Cthe resources are inadequate to cater for the population
Dthere are too many able-bodied men and women in the country
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Question 59
jamb2003
An adverse environmental impact of the petroleum industry on the economy is
Acommunal riots
Bthe vandalization of oil equipment
Coil spillage
Dcommunity development
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Question 60
jamb2003
Occupational mobility as applied to factors of production means the ease by which
Afactors can be transferred from one form of use to another
Bresources can be transferred from one place to another
Cresources can be transformed from one form to another
Dfactors can be transferred from one place to another
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Question 61
jamb2003
The demand for labour is an example of
Acomposite demand
Bjoint demand
Cderived demand
Dcompetitive demand
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Question 62
jamb2003
When a union is composed of workers with the same skill,it is termed
Aa technical union
Ba craft union
Can industrial union
Da workers' union
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Question 63
jamb2003
Two basic features common to an industry are
Aproduction processes and source of capital
Bsource of capital and labour supply
Csimilarity of products and source of raw materials
Dsimilarity of products and production processes
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Question 64
jamb2003
The major role of multi-national companies in the petroleum industry in Nigeria is
Athe establishment of refineries
Boil marketing and prospecting
Coil marketing only
Doil prospecting only
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Question 65
jamb2003
To compare the standard of living among nations, the most widely used economic indicator is the
Areal gross national income
Breal domestic output
Creal per capita income
Dper capita nominal income
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Question 66
jamb2003
IBRD as an international monetary institution is concerned with the
Aimprovement of trade among member nations
Bdevelopment of infrastructure in member nations
Cbalance of payments problems of member nations
Dfinancing of private businesses in member nations
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Question 67
jamb2003
The effect of an increase in the personal income tax is to
Areduce unemployment
Braise the absolute price level
Creduce the disposable income
Ddistort the economy
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Question 68
jamb2003
Statutory organisations usually established by Acts of Parliament are called
Apublic corporations
Bcooperative societies
Cjoint-stock companies
Dpublic enterprises
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Question 69
jamb2003
The effectiveness of devaluation as a solution to a balance of payments problem depends on the
Avalue of visible and invisible goods
Bvalue of invisible items of both domestic and foreign trades
Crelative elasticities of demand and supply of imports and exports
Dforeign investments of businessmen
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Question 70
jamb2003
Privatization and commercialization of public enterprise in Nigeria is necessitated by
