Search SchoolNGR

Economics Past Questions and Answers

Jamb Economics Questions

Question 21:

Limited liability means?

SchoolNGR Classroom

A The debts of a company can only be paid from its own assets
B The debts of a company are paid from business as well as private funds of the owners
C Government cannot tax the company
D The debts of a company must be paid from private funds only
E The company does not have to pay its debts

View Answer & Explanation

Question 22:

The purchasing power of the naira will fall when?

SchoolNGR Classroom

A The naira is devalued
B Government cuts all salaries and wages
C There is inflation
D The colour of the naira is changed
E Workers are retrenched

View Answer & Explanation

Question 23:

When a business has unlimited liability

SchoolNGR Classroom

A All its profits can be taxed away by the government
B All its assets are owned by the members of its board of directors
C The business ceases to exist at the death of one of its owners
D The owners are responsible for all its financial debts
E The owners are not responsible for all its financial debts

View Answer & Explanation

Question 24:

Which of the following factors is mostly responsible for the concentration of population around the oil fields in Eastern Nigeria?

SchoolNGR Classroom

A Establishement of industries
B Presence of mineral deposits
C Transportation facilities
D Favourable soils
E Favourable climate conditions

View Answer & Explanation

Question 25:

The petro- chemical industries are located in the River State of Nigeria due to?

SchoolNGR Classroom

A Favourable climate
B Favourable soil
C Oil deposits
D Palm oil products
E Coal deposit

View Answer & Explanation

Stay Updated

Follow us on:

Subjects