Jamb Economics 2000 Past Questions and Answers

Question 16:

• JAMB 2000

A distinguishing characteristic of cooperative societies is that voting power depends on the?

A. Number of shares held
B. Status of the member
C. Equality of members
D. Management's decision

Question 17:

• JAMB 2000

The concept of privatization presupposes?

A. Efficiency
B. Marketing trade
C. Indigenization
D. Foreign trade

Question 18:

• JAMB 2000

One problem in the marketing of agricultural products in Nigeria is?

A. The seasonal nature of the commodities
B. High price of the commodities
C. The changing tastes of consumers
D. Inadequate storage facilities

Question 19:

• JAMB 2000

Increased output will cause farmers' revenue to decrease when market demand is?

A. Elastic
B. Inelastic
C. Unitary elastic
D. Perfectly elastic

Question 20:

• JAMB 2000

A primary industry is concerned with?

A. Extraction of resources in their raw states
B. The operation of small scale enterprises
C. The economic activities of primary producers
D. Clearing and cultivation of land only