by Sunday | Oct 21 | Economics JAMB
A. Provision of welfare to the citizens B. That tax payers bear all the risks C. Public ownership of shares D. Individual funding of business activities Correct Answer: Option D – Individual funding of business activities Explanation Characteristics of the...
by Sunday | Oct 21 | Economics JAMB
A. Conflict of interest among members B. Increasing population C. Weakness in the trade relationship D. Language barrier Correct Answer: Option D – Language barrier Explanation PROBLEMS THE ECONOMIC COMMUNITY OF WEST AFRICAN STATES – Language barrier...
by Sunday | Oct 21 | Economics JAMB
A. Ensuring equitable distribution of income B. Liberalizing all sectors of the nation’s economy C. Encouraging the development of manufacturing sector D. Achieving self-sufficiency in food production Correct Answer: Option D – Achieving self-sufficiency...
by Sunday | Oct 20 | Economics JAMB
A. Elastic B. Unitary C. Inelastic D. Zero Correct Answer: Option C – Inelastic Explanation In case of perishable goods such as vegetables, fruits, and other eatables, the supply would be inelastic. This is because the supply of perishable goods cannot be...
by Sunday | Oct 20 | Economics JAMB
A. Galloping inflation B. Imported inflation C. Demand-pull inflation D. Cost-push inflation Correct Answer: Option C – Demand-pull inflation Explanation Demand-pull inflation arises when aggregate demand in an economy outpaces aggregate...