Factors, characteristics, and rewards of production - Jamb Commerce Past Questions and Answers

Question 26:

• JAMB 2014

An important feature of land is that it

A. Has an elastic supply
B. Is an active factor of production
C. Is heterogenous in nature
D. Is subject to returns to scale

Question 27:

• JAMB 2014

One of the major determinants of the volume of production is

A. The market size
B. The availability of banks
C. Sex distribution
D. Government policy

Question 28:

• JAMB 2015

Resources commited into the production of relatively few commodities is known as

A. Production
B. Specialization
C. Creation manufacturing
D. Manufacturing

Question 29:

• JAMB 2016

One of the factors of determining the volume of production is

A. Availablity of forex
B. Availability of storage facilities
C. The location of the business
D. The number of skilled manpower

Question 30:

• JAMB 2016

Labour as an input in production can be motivated by

A. Training
B. Profit
C. Remuneration
D. Promotion