Question 316:

• JAMB 2015

Which of the following are examples of transfer payment

A. Gift and donations
B. Rents and rates
C. Profit and dividends
D. Internal and external debts

Question 317:

• JAMB 2015

The technical relationship between the physical inputs and the physical outputs of a firm is

A. Utility
B. Cost
C. Demand
D. Production function

Question 318:

• JAMB 2015

The income elasticity of demand of normal goods is

A. Negative
B. Positive
C. Zero
D. Fixed

Question 319:

• JAMB 2015

The concentration of industries in a particular geographical area is

A. Localization of industries
B. Roles of industrialization
C. Location of industry
D. Strategies of industrialization

Question 320:

• JAMB 2015

\(\begin{array}{c|c}
\text{Units of quantity} & \text{Total utility} & \text{Marginal utility} \\
\hline
0 & - & - \\
\hline
1 & 10 & 10 \\
\hline
2 & 15 & 5 \\
\hline
3 & 17 & 2 \\
\hline
4 & 18 & 1 \\
\hline
5 & 18 & 0 \\
\end{array}\)
The table illustrate the law of

A. Admonishing returns
B. Increasing returns
C. Diminishing marginal utility
D. Increasing marginal utility