by Sunday | Oct 20 | Economics JAMB
A. Rubber B. fuel C. paints D. insecticides Correct Answer: Option A – Rubber Explanation Rubber is a coagulated, elastic latex. Plants that produce elastic latexes are largely neotropical. Commercial rubber is produced from latex of Hevea...
by Sunday | Oct 20 | Economics JAMB
A. central bank B. mortgage banks C. money deposit banks D. insurance companies Correct Answer: Option B – mortgage banks Explanation This question is a little bit tricky to answer because out of the 4 options provided only one is not a participant in the...
by Sunday | Oct 20 | Economics JAMB
A. maintain the integrity of their members B. protect the interest and pursue the welfare of members C. ensure better working conditions for members D. provide voluntary services to the members Correct Answer: Option B – protect the interest and pursue the...
by Sunday | Oct 20 | Economics JAMB
A. production cost is high B. government embarks on deficits financing C. factors decrease D. there is too much in circulation Correct Answer: Option A – production cost is high Explanation Cost-push inflation occurs when an increase in cost of production are...
by Sunday | Oct 20 | Economics JAMB
A. encourages high volume of production B. dictates what the citizens will consume C. discourages the consumption of harmful goods D. regulates production and consumption Correct Answer: Option D – regulates production and consumption Explanation The price...
by Sunday | Oct 20 | Economics JAMB
A. Price equilibrium B. Price control C. Demanded price D. Asking price Correct Answer: Option B – Price control Explanation Price control policy refers to how the government or its agency fixes the price of essential commodities. Price control is carried out in...