by Sunday | Oct 20 | Economics JAMB
A. low-interest charges on loans B. improvements in infrastructure C. low foreign exchange rate D. high standard of living Correct Answer: Option D – high standard of living Explanation This is one of the reasons government participates in the location of...
by Sunday | Oct 20 | Economics JAMB
A. Limited partnership B. limited liability company C. private partnership D. joint-stock partnership Correct Answer: Option A – Limited partnership Explanation Limited partnership is one who has agreed to contribute a certain sum to a partnership in business...
by Sunday | Oct 20 | Economics JAMB
A. Grants, aids and borrowing B. Taxes, fees, licenses and fines C. Interest, dividends, profits and earnings D. personal income, disposable income and transfer earnings Correct Answer: Option D – personal income, disposable income and transfer earnings...
by Sunday | Oct 20 | Economics JAMB
A. Distribute money to citizens B. support better production C. remove competition D. prepare budget Correct Answer: Option D – prepare budget Explanation Opportunity cost refers to a benefit that a person could have received, but gave up, to take another course...
by Sunday | Oct 20 | Economics JAMB
A. a central bank B. a money market C. an insurance D. a stock exchange Correct Answer: Option B – a money market Explanation Money market can be defined as a market for short-term loans. The market consists of institutions or individuals who either have money...
by Sunday | Oct 20 | Economics JAMB
A. price maker B. price taker C. price seeker D. A and B Correct Answer: Option B – price taker Explanation A perfect market may be defined as one in which buyers or sellers cannot influence the price of goods and services. That is, the buyers or sellers are...