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Economics Past Questions and Answers

Jamb Economics Questions

Question 16:

A distinguishing characteristic of cooperative societies is that voting power depends on the?

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A Number of shares held
B Status of the member
C Equality of members
D Management's decision

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Question 17:

The concept of privatization presupposes?

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A Efficiency
B Marketing trade
C Indigenization
D Foreign trade

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Question 18:

One problem in the marketing of agricultural products in Nigeria is?

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A The seasonal nature of the commodities
B High price of the commodities
C The changing tastes of consumers
D Inadequate storage facilities

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Question 19:

Increased output will cause farmers' revenue to decrease when market demand is?

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A Elastic
B Inelastic
C Unitary elastic
D Perfectly elastic

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Question 20:

A primary industry is concerned with?

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A Extraction of resources in their raw states
B The operation of small scale enterprises
C The economic activities of primary producers
D Clearing and cultivation of land only

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