by Sunday | Oct 19 | Economics JAMB
A. zero base budget B. surplus budget C. deficit budget D. balanced policy Correct Answer: Option C – deficit budget Explanation A budget deficit is the annual shortfall between government spending and tax revenue. The deficit is the annual amount the government...
by Sunday | Oct 19 | Economics JAMB
A. Wages B. capital C. labour D. land Correct Answer: Option D – land Explanation Land is defined in economics as a free gift of nature. Land does not only include land surface of the earth but all other free gift of nature or natural resources like forest,...
by Sunday | Oct 19 | Economics JAMB
A. joint stock exchange B. cooperative society C. sole proprietorship D. partnership Correct Answer: Option D – partnership Explanation A partnership may be defined as a type of business organization in which two to twenty persons agree legally to setup and...
by Sunday | Oct 19 | Economics JAMB
A. Ends B. Alternative means C. Scarce D. Means Correct Answer: Option A = Ends Explanation Professor Lionel C. Robbins defined economics as the science which studies human behavior as a relation to ends and scarce means which have alternative uses. The “ends” in the...
by Sunday | Oct 19 | Economics JAMB
A. The activities of multinationals B. inadequate personnel at the secretariat C. political instability D. inadequate international support Correct Answer: Option C – political instability Explanation Frequent change of leadership of member state creates a...
Land Law and the Consequences of Unauthorized Land Transfers in Nigeria
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