by Sunday | Oct 18 | Economics JAMB
A. cost B. salary C. bonus D. wage rate Correct Answer: Option D – wage rate Explanation The wage rate definition is the rate of compensation for a worker. it is based on the amount produced or the number of hours...
by Sunday | Oct 18 | Economics JAMB
A. an Improvement in capital goods technology but not In consumer goods technology B. a movement from unemployment to full employment C. that the output for the society has declined D. a gain in consumer goods technique and not in capital goods technique Correct...
by Sunday | Oct 18 | Economics JAMB
A. can be calculated from incomplete data B. is a balancing point in an observation C. is a midpoint value in an array of data D. is not affected by extreme values in a data Correct Answer: Option B – is a balancing point in an...
by Sunday | Oct 18 | Economics JAMB
A. command economy B. mixed economy C. subsistence economy D. market economy Correct Answer: Option D – market economy
by Sunday | Oct 18 | Economics JAMB
A. scarcity and the need for choice B. The needs to satisfy wants C. Non – availability of factors of production D. Scarcity of resources Correct Answer: Option A – scarcity and the need for choice
by Sunday | Oct 18 | Economics JAMB
A. output – labour ratio B. capital – output ratio C. output growth rate D. Output per capital Correct Answer: Option C – output growth rate