Jamb Economics 1985 Past Questions and Answers

Question 16:

• JAMB 1985

Which of the following is NOT a feature of underdevelopment?

A. Low per capita income
B. Vicious circle of poverty
C. Low level of industrialization
D. Greater dependence on primary production
E. High per capita income

Question 17:

• JAMB 1985

The inefficient distribution of scarce commodities in Nigeria is mostly due to the?

A. Inefficiency in the middlemen
B. Inefficiency in the production process
C. Long chain of the distribution system
D. Sovereignty of the consumers
E. Ineffectiveness of retailers

Question 18:

• JAMB 1985

Warehousing facilities in the distribution and marketing of products are provided by?

A. Manufacturers
B. Wholesalers
C. Retailers
D. Consumers
E. Sellers

Question 19:

• JAMB 1985

A corporation can obtain funds by issuing bonds. A bond is a form of debt which falls due to repayment after?

A. 6 months
B. 9 mnths
C. 2 years
D. 5 years
E. 10 or more years

Question 20:

• JAMB 1985

A firm is said to be a public Joint Stock Company when it?

A. Is owned by the government
B. Is operated as a public corporation
C. Is operated in a non-democratic fashion
D. Sells shares to members of the public and publishes its account
E. Is a limited liability company