Question 486:

• JAMB 1979

Infant industries are

A. A baby food and a baby clothing factories
B. Those which are introducing new products
C. Cases of arrested development
D. Industries temporarily protected by tariff barriers until mature enough to compete on world markets
E. Industries that are allowed to remain permanent cases of adolescence

Question 487:

• JAMB 1979

The quantity supplied of a commodity increases while

A. Production incraases
B. Demand increses
C. Price of the commodity increases
D. Population of the country increases
E. More commodites are imported

Question 488:

• JAMB 1980

Production in Economics occurs when

A. A commodity or service is sold
B. Utility is created or added
C. A commodity is manufactured
D. Raw materials are produced or extracted from mines
E. All of these

Question 489:

• JAMB 1980

Production in Economics occurs when

A. A commodity or service is sold
B. Utility is created or added
C. A commodity is manufactured
D. Raw materials are produced or extracted from mines
E. All of these

Question 490:

• JAMB 1980

From an economic point of view, an activity does not have a cost when

A. Someone else pays for it
B. The returns are greater than the cost
C. The choice involves giving up nothing
D. The government pays for it
E. It is paid for from a gift