Jamb Economics 2003 Past Questions and Answers

Question 16:

• JAMB 2003

Imperfect market is characterized by

A. Perfect mobility of factors of production
B. Many buyers and few sellers
C. A large number of buyers and sellers
D. Non-preferential treatment

Question 17:

• JAMB 2003

The term 'Near money' is best described as

A. A financial instrument that is readily convertible to cash
B. Government financial instrument that is convertible to cash
C. Time deposits with low interest rates
D. A financial asset that is convertible to cash

Question 18:

• JAMB 2003

The distinguishing characteristic between the money market and the capital market lies in whether the

A. Securities are primary or secondary
B. Debt instruments provided are long-term or short-term
C. Funds mobilized are private or public
D. Securities are in debentures or ordinary shares

Question 19:

• JAMB 2003

For a firm, value added can be defined as the difference between the

A. Input prices and product prices
B. Value of its output and inputs purchased from other firms
C. Value of its output and the cost of production
D. Total revenue and total cost

Question 20:

• JAMB 2003

Insurance companies, pension and provident funds and unit trusts are all examples of

A. Rural-based revenue mobilizers
B. Non-governmental organisations
C. Government financial agencies
D. Non-bank financial institutions