Jamb Economics 2004 Past Questions and Answers

Question 11:

• JAMB 2004

The distinction between perfect competition and monoplistic competition is that the latter is characterized by

A. A single market price
B. Many buyers and sellers
C. Product differentiation
D. Homogeneity of product

Question 12:

• JAMB 2004

The downstream activities of oil companies in Nigeria involve

A. Refining and distribution
B. Prospecting and exploration
C. Off-shore drilling
D. Management of spillage and pollution

Question 13:

• JAMB 2004

The movement of goods and services from the producers to the consumers is referred to as

A. External trade
B. The distribution chain
C. The circular flow
D. Consumption

Question 14:

• JAMB 2004

The purpose of conducting a census is to enable a country to

A. Plan her capital inflow and outflow
B. Determine the optimum level of population
C. Determine the growth rate of population
D. Plan her growth and development

Question 15:

• JAMB 2004

A major cause of the slow pace of industrialization in Nigeria is inadequate

A. Raw materials
B. Landmass
C. Skilled labour
D. Communal labour