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Economics Past Questions and Answers

Jamb Economics Questions

Question 21:

A major feature of an underdeveloped economy is

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A Excess capacity utilization
B Low rate of population growth
C Low level of standard of living
D Low level of unemployment

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Question 22:

An advantage of large-scale farming over peasant farming is in the area of

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A Providing research and massive employment of labour
B Redistributing national income to various regions of the country
C Encouraging the use of traditional implements
D Encouraging urban-rural migration

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Question 23:

A major disadvantage of localization of industry is

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A The risk of structural unemployment
B Over-utilization of installed industrial capacity
C The risk of seasonal unemployment
D Under-utilization of installed industrial capacity

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Question 24:

One major factor that determines the location of an industry is

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A Tax exemption grant
B Its proximity to the market
C The capital base
D The social responsibility of the firm

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Question 25:

One of the challenges facing the banking industry in Nigeria is

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A Ensuring technological security
B Providing employment
C Providing loans for investment
D Creating more money

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