Economics 1989 Jamb Past Questions and Answers

Question 16 :

• JAMB 1989

The merging of firms engage in different stages of production and marketing is called?

A. External economies of scale
B. Vertical intergration
C. Horizontal intergration
D. Economic unoin

Question 17 :

• JAMB 1989

which of the following is an important function of the retailer?

A. Grant credit to the wholesaler
B. Breaks bulk and sales product in small units
C. Reduces cost of distribution
D. Generates demand for production through advertisement

Question 18 :

• JAMB 1989

One of the purposes of advertisement in marketing is to?

A. Change the quality of the product
B. Raise the quantity of the product demanded as its price falls
C. Shift the demand curve for the product to the right
D. Raise production cost

Question 19 :

• JAMB 1989

The size of a business units tends to be small if the activity?

A. Involves mass production of goods
B. Requires a large capital
C. Requires division of labour
D. Involves the provision of direct services

Question 20 :

• JAMB 1989

Which type of business organization has the attribute effectively combining management with control?

A. Sole proprietorship
B. Partnership
C. Limited liability company
D. Co-operatives