Question 311:

• JAMB 2015

The relationship between the cost of living and standard of living is

A. A rise in cost of living gives a corresponding rise in standard of living
B. A lower cost of living give a higher standard of living
C. A lower cost of living give a lower standard of living
D. None of the above

Question 312:

• JAMB 2015

The ordinalist approach of utility postulated that utility can be

A. Rank
B. Measurable
C. Rise
D. Fall

Question 313:

• JAMB 2015

The frequent value that occurs most in a data is

A. Median
B. Mean
C. Mode
D. Range

Question 314:

• JAMB 2015

A monopolist has the power to influence the prices of goods and services. Therefore, he is a

A. Price maker
B. Price taker
C. Price system
D. Price competition

Question 315:

• JAMB 2015

Which of the following business units can issue shares?

A. Partnership
B. Public limited liability company
C. Sole proprietorship
D. Central bank