Jamb Economics 1997 Past Questions and Answers

Question 21:

• JAMB 1997

The most important requirement for increasing agriculture output in Nigeria is?

A. For the government to go into large scale farming
B. To employ relevant foreign technology and reform the land tenure system
C. To increase farmers'incomes and improve the farming techniques
D. To employ more extension workers

Question 22:

• JAMB 1997

What is the effect of inelastic demand for agricultural products on the income of a farmer?

A. A price rise results in its fall
B. A price fall results in its fall
C. A price fall results in its rise
D. A price rise leaves the income unchanged

Question 23:

• JAMB 1997

Plywood industries are often located near the source of?

A. Finance
B. Labour
C. Power supply
D. Raw materials

Question 24:

• JAMB 1997

A firm is said to have benefited from external economies in production if it has realized?

A. A more efficient management of resources
B. A better combination of factors of production
C. Reduced resources costs due to operation of other firms
D. A higher profit level due to increased sales

Question 25:

• JAMB 1997

One of the dangers of the localization of industries is?

A. Residual employment
B. Mass unemployment
C. Structural unemployment
D. Cyclical unemployment