Question 381:

• JAMB 2014

Price mechanism determines the prices of commodities through

A. Auctioning
B. Market forces
C. The sales of treasury bills
D. Government legislation

Question 382:

• JAMB 2014

If the production of a large firm is higher than that of a small firm, it is experiencing.

A. External economies of scale
B. External diseconomies of scale
C. Internal economies of scale
D. Internal diseconomies of scale

Question 383:

• JAMB 2014

The choice of how to produce in a command economy is determined by

A. Government
B. Consumer
C. Industrialists
D. Labour unions

Question 384:

• JAMB 2014

In capitalist economies, questions about what to produce are ultimately answered by

A. Income level of households
B. Available technical skills in the economy
C. Output decisions of firms
D. Holding decision of households

Question 385:

• JAMB 2014

The best measure of dispersion to determine the tallest tree in a forest is

A. Range
B. Variance
C. Standard deviation
D. Mean deviation