Question 151:

• JAMB 2019

The need to construct a scale of preference is necessitated by____________

A. Scarcity and the need for choice
B. The needs to satisfy wants
C. Non - availability of factors of production
D. Scarcity of resources

Question 152:

• JAMB 2019

The privatization exercise in Nigeria is a move towards a____________

A. Command economy
B. Mixed economy
C. Subsistence economy
D. Market economy

Question 153:

• JAMB 2019

The mean is the best measure of central tendency because it__________

A. Can be calculated from incomplete data
B. Is a balancing point in an observation
C. Is a midpoint value in an array of data
D. Is not affected by extreme values in a data

Question 154:

• JAMB 2019

No of Men	1	2	3	4	5	6	7	8
Total Product(unit)	200	440	540	600	640	660	660	640

If the price per unit is N2, what is the average revenue when 6 men are employed?

A. N110
B. N120
C. N220
D. N330

Question 155:

• JAMB 2019

The current stage of the economy is depicted in curve I. The movement of curve I to II suggests___________

A. An Improvement in capital goods technology but not In consumer goods technology
B. A movement from unemployment to full employment
C. That the output for the society has declined
D. A gain in consumer goods technique and not in capital goods technique