by Sunday | Jan 3 | Economics JAMB
A. will be composed of goods produced by women B. figures will be grossly over-stated C. statistics will be difficult to calculate D. figures will be grossly under-estimated Correct Answer: Option B – figures will be grossly over-stated Explanation In a country...
by Sunday | Jan 3 | Economics JAMB
A. death rate is reduced B. moral restraint abolished C. more hospitals are built D. there is natural calamities Correct Answer: Option D – there is natural calamities Explanation The positive checks are: famine, war, disease, pestilence, floods and other...
by Sunday | Jan 3 | Economics JAMB
A. structural unemployment B. frictional unemployment C. seasonal unemployment D. residual unemployment Correct Answer: Option C – seasonal unemployment Explanation Seasonal unemployment occurs in industries or activities that are seasonal in nature. Such...
by Sunday | Jan 3 | Economics JAMB
A. are located very close to consumers B. finance both producers and retailers C. pass information on from retailers to consumers D. sell in small units to consumers Correct Answer: Option B – finance both producers and retailers Explanation Wholesalers finance...
by Sunday | Jan 3 | Economics JAMB
A. increasing returns to scale B. diminishing average returns C. decreasing marginal returns D. decreasing average fixed cost Correct Answer: Option A – increasing returns to scale Explanation A firm’s average cost decreases in the long-run because of the...