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Economics Past Questions and Answers

Jamb Economics Questions

Question 16:

Which of the following is NOT a feature of underdevelopment?

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A Low per capita income
B Vicious circle of poverty
C Low level of industrialization
D Greater dependence on primary production
E High per capita income

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Question 17:

The inefficient distribution of scarce commodities in Nigeria is mostly due to the?

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A Inefficiency in the middlemen
B Inefficiency in the production process
C Long chain of the distribution system
D Sovereignty of the consumers
E Ineffectiveness of retailers

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Question 18:

Warehousing facilities in the distribution and marketing of products are provided by?

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A Manufacturers
B Wholesalers
C Retailers
D Consumers
E Sellers

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Question 19:

A corporation can obtain funds by issuing bonds. A bond is a form of debt which falls due to repayment after?

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A 6 months
B 9 mnths
C 2 years
D 5 years
E 10 or more years

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Question 20:

A firm is said to be a public Joint Stock Company when it?

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A Is owned by the government
B Is operated as a public corporation
C Is operated in a non-democratic fashion
D Sells shares to members of the public and publishes its account
E Is a limited liability company

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