Question 671:

• JAMB 1983

Which of the following is NOT an advantage of localization of industries?

A. Reaping of external economies
B. Development of a pool or skilled labour for industry
C. Development of subsidiary industries
D. Development of organized markets
E. Growth of conurbations

Question 672:

• JAMB 1983

The monetary system that requires double coincidence of want is known as?

A. The gold standard
B. Barter
C. The commodity system
D. The gold exchange standard
E. The cheque system

Question 673:

• JAMB 1983

The effect of emigration on a country's population, all other things remaining equal, is to

A. Increase its size
B. Cause overpopulation
C. Increase its growth rate
D. Reduce the proportion of children
E. Reduce its size

Question 674:

• JAMB 1983

Money performs a number of functions, ONE of these functions makes is possible for any person to provide for old age?

A. Money is regarded as a medium of exchange
B. Measure for value
C. Unit of account
D. Store of value
E. Standard for deferred payments

Question 675:

• JAMB 1983

Agriculture plays a dominant role in West Africa economics because

A. The green Revolution in Nigeria is agriculture
B. It supplies all the foodstuff consumed in West Africa
C. There are large plantation of cocoa, groundnut and palm oil in West Africa
D. It is the main source of revenue in Nigeria
E. It employs more than 50% of the total labour force in West Africa