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Economics Past Questions and Answers

Jamb Economics Questions

Question 26:

In a public company, shares are?

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A Sold to one person only
B Distributed freely
C Advertised to members of the public for subscription
D Disposed by the Chief Executive

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Question 27:

Which of the following is a characteristic of private limited liability company?

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A Its shares can be sold to the public
B The number of shareholders ranges from fifty to one hundred
C All shareholders have equal powers and responsibilities
D The number of shareholders ranges from two to fifty

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Question 28:

One of the advantages of a partnership over a sole proprietorship is that?

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A It is the most popular form of business organization
B The patern can easy withdraw from business
C It makes an increase in the capital of the business possible
D There is no limit to the number of people who may bring in capital

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Question 29:

Which of the following is an external economy derived by a firm?

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A Low cost opportunities enjoyed by being in a place where other producers concentrate
B Technical economics enjoyed by varying the factors of production
C Economics of management by putting administrators where the are most efficient
D Marketing advantages attained through preferential treatment in the purchase and distribution of produce

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Question 30:

Which of the following advantages of localization of industries may also be a disadvantage?

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A External economies
B Concentration of industries and of people
C Development of organized markets
D Reduced costs of research

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