Question 276:

• JAMB 2015

What would encourage the growth of international division of labour?

A. Improvement in transport system
B. Instability in international exchange rate
C. Restrictions on the movement of resources
D. Increase in tariff

Question 277:

• JAMB 2015

The demand and supply functions of commodity x are given as follows: Qd = 20- 2p, Qs = 6p - 12 where p = price, Qd = quantity demanded and Qs = quantity supplied. Determine the equilibrium price

A. N4
B. N8
C. N2
D. N10

Question 278:

• JAMB 2015

The practice of selling goods overseas and often below the cost of production is known as

A. Retailing
B. Dumping
C. Internal trade
D. Advertising

Question 279:

• JAMB 2015

A major limiting factor of mass production is

A. Efficient management
B. Adequate labour supply
C. Small size of the market
D. Adequate supply of raw materials

Question 280:

• JAMB 2015

When elasticity is zero, demand curve is

A. Perfectly elastic
B. Perfectly inelastic
C. Down-ward sloping
D. Upward sloping