Jamb Economics 1980 Past Questions and Answers

Question 26:

• JAMB 1980

Which of the following is the standard concept for measuring and analyzing population growth?

A. The rate of natural increase
B. The net migrate
C. The rate of population increase
D. The fertility rate
E. All of the above

Question 27:

• JAMB 1980

When we draw a market demand curve, we?

A. Ignore tastes, incomes and other prices
B. Assumes that tastes, income and prices do not matter
C. Assumes that taste, income and all other prices change in same direction as prices
D. Assume that tastes, incomes and all other prices remain constant
E. Both A and B above

Question 28:

• JAMB 1980

Capital earns income because?

A. It is productive
B. It is expensive
C. It is always cheaper to substitute capital for labour
D. It is technically more efficient than labour
E. Both A and B above

Question 29:

• JAMB 1980

In a free market economy, the rationing of scarce goods is done principally by

A. The government
B. Business organizations
C. The price mechanism
D. Consumers
E. Both A and B

Question 30:

• JAMB 1980

A disadvantage of the corporate form of business is the?

A. Risk of the owners of loss of personal effects if the business should fail
B. Ability of the corporation to is financial resources
C. Limited life span of the corporation
D. Problems presented by separation ownership from control
E. None of the above