Jamb Economics 2014 Past Questions and Answers

Question 21:

• JAMB 2014

A major feature of an underdeveloped economy is

A. Excess capacity utilization
B. Low rate of population growth
C. Low level of standard of living
D. Low level of unemployment

Question 22:

• JAMB 2014

An advantage of large-scale farming over peasant farming is in the area of

A. Providing research and massive employment of labour
B. Redistributing national income to various regions of the country
C. Encouraging the use of traditional implements
D. Encouraging urban-rural migration

Question 23:

• JAMB 2014

A major disadvantage of localization of industry is

A. The risk of structural unemployment
B. Over-utilization of installed industrial capacity
C. The risk of seasonal unemployment
D. Under-utilization of installed industrial capacity

Question 24:

• JAMB 2014

One major factor that determines the location of an industry is

A. Tax exemption grant
B. Its proximity to the market
C. The capital base
D. The social responsibility of the firm

Question 25:

• JAMB 2014

One of the challenges facing the banking industry in Nigeria is

A. Ensuring technological security
B. Providing employment
C. Providing loans for investment
D. Creating more money