by Sunday | Oct 21 | Economics JAMB
A. defacto and dejure B. increasing and decreasing C. over and under D. optimum Correct Answer: Option A – defacto and dejure Explanation There are two types of population census. They are: Defacto Population Census and De jure Population Census. Defacto is that...
by Sunday | Oct 21 | Economics JAMB
A. objective B. economy C. convenience D. certainty Correct Answer: Option A – objective Explanation There are four principles given by Adam Smith which include equality/ability to pay, economy, convenience and certainty. Objective is not a canon of...
by Sunday | Oct 21 | Economics JAMB
A. localization of industries B. roles of industrialization C. location of industry D. strategies of industrialization Correct Answer: Option A – localization of industries Explanation Localization means the concentration of a certain industry in a particular...
by Sunday | Oct 21 | Economics JAMB
A. stock exchange market B. imperfect market C. perfect market D. exchange market Correct Answer: Option C – perfect market Explanation The Perfect Competition is a market structure where a large number of buyers and sellers are present, and all are engaged in...
by Sunday | Oct 21 | Economics JAMB
A. Generate employment B. Source of government revenue C. development of mono-economy D. Infrastructure development Correct Answer: Option C – development of mono-economy Explanation Oil production brings about a billion investments in the country’s...
by Sunday | Oct 21 | Economics JAMB
A. import duty B. excise duty C. company tax D. value-added tax Correct Answer: Option B – excise duty Explanation A tax percentage levied on manufactured, sale, or use of locally produced goods (such as alcoholic drinks or tobacco...