Economics 1991 Jamb Past Questions and Answers

Question 21 :

• JAMB 1991

A disadvantage of a joint-stock company is?

A. Unlimited liability
B. Limited liability
C. Continuity
D. Loss of controlling interest

Question 22 :

• JAMB 1991

A disadvantage of a joint-stock company is?

A. Unlimited liability
B. Limited liability
C. Continuity
D. Loss of controlling interest

Question 23 :

• JAMB 1991

A characteristic of a debenture is that?

A. Its yeild is based on profits
B. Its yeild is a fixed rate of interest
C. It has no redemption date
D. There is a voting right when interest is paid

Question 24 :

• JAMB 1991

Industries tend to be located closer to market centers than to the sources of major raw materials if the?

A. Products are relatively cheap to transport to market centers
B. Products are relatively more expensive to transport than the major raw materials
C. Raw marterials are bulky
D. Raw marterials can also be imported

Question 25 :

• JAMB 1991

One disadvantage of trade by barter is that?

A. People are happier when they exchange the same quantities of goods through the medium of money rather than by barter
B. The person wishing to buy good X may not have good Y which is what the other wants
C. One person must always be cheated when trade takes place by barter
D. It increases the intial cost of producing goods