Question 541:

• JAMB 1981

Two goods, X and Y, are said to be complementary when?

A. A fall in the price of X raises the demand for Y
B. A fall in the price of X causes a fall in the demand for Y
C. A fall in the price of X does not affect the demand for Y
D. A rise in the price of X does not affect the demand for Y
E. The two goods are competitive.

Question 542:

• JAMB 1981

Which of the following is NOT true about specialization or division of labour?

A. Specialization and exchange go hand in hand
B. Specialization implies that each person produces a surplus of one or a few items (e.g commodities) n which he is specialized
C. Division of labour needs not take account of the extent of the market
D. Division of labour results in increased productivity
E. Division of labour involves the danger of unemployment

Question 543:

• JAMB 1981

Money becomes a very poor store of value in a period of

A. Deflation
B. Stable prices
C. Recession
D. Inflation
E. Harvest

Question 544:

• JAMB 1981

Government in West Africa countries engage in running a number of enterprises because ?

A. Large amount of capital are needed and key industries should not be left in private hands
B. Private capital would not established an adequate infrastructure
C. It brings about a more even distribution of the country’s wealth
D. The social costs of some enterprises make the government the most suitable body to set them up
E. All of the above

Question 545:

• JAMB 1981

The function of money as a standard of deferred payments

A. Make possible for an individual to build up store of many things for future use
B. Makes it possible for payment to be postponed from the present to a future date
C. Facilitate the exchange of goods
D. Makes easy calculations possible
E. None of the above