Jamb Economics 1984 Past Questions and Answers

Question 21:

• JAMB 1984

One disadvantage of sole proprietorship is its?

A. Limited libility
B. High profits
C. High sense of ownership
D. Low credit rating
E. Low failure rate

Question 22:

• JAMB 1984

The channel for food distribution in Nigeria consist of?

A. Farmers and their families
B. Producers, wholesalers and retailers
C. Producers and consumers
D. Producers and processor
E. Farmers, processors and consumers

Question 23:

• JAMB 1984

Which of the following is NOT true of debentures and debenture holders?

A. Debentures are instruments for rising long-term capital by limited liability companies
B. Debenture are fixed interest-bearing securities with specified maturity dates
C. Debentures holders are creditors to the company and therefore do not share in the risk of the company
D. Debenture holders are entitled to interest payments whether or not profits are made
E. Preference shareholders recieve their share of profits before debenture holders receive their entitlements

Question 24:

• JAMB 1984

The economic goal of public utilities is to?

A. Maximize profit
B. Expand assets
C. Minimize costs
D. Provide essential services
E. Pay higher dividends to shareholders

Question 25:

• JAMB 1984

The basic principles of co-operative societies are those of?

A. Active participation of capitalist in the affairs of co-operative societies
B. Worker ownership and worker control
C. Sole proprietorship
D. Partnership
E. Denying of credit facilities to members