Question 691:

• JAMB 1984

Division of labour is limited by?

A. The size of market
B. The productivity of capital
C. Cost of production
D. The factors of production
E. Government policy

Question 692:

• JAMB 1984

The production within the domestic territory of a country is called the

A. Net national product
B. Gross domestic product
C. Net income
D. Disposable income
E. Gross national product

Question 693:

• JAMB 1984

In discussing the reasons why wages differ between occupations, which of the following should be regarded as a cardinal point that needs to be emphasized?

A. Length and cost of training
B. Demand and supply
C. Attractiveness of the job
D. Influence of the trade union
E. Government intervention

Question 694:

• JAMB 1984

The advantages that accrue to a firm as the size of the firm increases are known as

A. External diseconomies
B. Internal returns to scale
C. Internal economies
D. Internal diseconomies
E. Constant returns to scale

Question 695:

• JAMB 1984

Which Of the following is NOT an obstacle to economic development?

A. Low level of investment
B. Lack of modern technology
C. High rate of population growth
D. Low productivity
E. Dedicated leadership