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Economics Past Questions and Answers

Jamb Economics Questions

Question 21:

A disadvantage of a joint-stock company is?

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A Unlimited liability
B Limited liability
C Continuity
D Loss of controlling interest

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Question 22:

A disadvantage of a joint-stock company is?

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A Unlimited liability
B Limited liability
C Continuity
D Loss of controlling interest

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Question 23:

A characteristic of a debenture is that?

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A Its yeild is based on profits
B Its yeild is a fixed rate of interest
C It has no redemption date
D There is a voting right when interest is paid

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Question 24:

Industries tend to be located closer to market centers than to the sources of major raw materials if the?

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A Products are relatively cheap to transport to market centers
B Products are relatively more expensive to transport than the major raw materials
C Raw marterials are bulky
D Raw marterials can also be imported

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Question 25:

One disadvantage of trade by barter is that?

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A People are happier when they exchange the same quantities of goods through the medium of money rather than by barter
B The person wishing to buy good X may not have good Y which is what the other wants
C One person must always be cheated when trade takes place by barter
D It increases the intial cost of producing goods

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