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...
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...