Jamb Economics 2015 Past Questions and Answers

Question 46:

• JAMB 2015

A monopolist has the power to influence the prices of goods and services. Therefore, he is a

A. Price maker
B. Price taker
C. Price system
D. Price competition

Question 47:

• JAMB 2015

Which of the following business units can issue shares?

A. Partnership
B. Public limited liability company
C. Sole proprietorship
D. Central bank

Question 48:

• JAMB 2015

Which of the following are examples of transfer payment

A. Gift and donations
B. Rents and rates
C. Profit and dividends
D. Internal and external debts

Question 49:

• JAMB 2015

The technical relationship between the physical inputs and the physical outputs of a firm is

A. Utility
B. Cost
C. Demand
D. Production function

Question 50:

• JAMB 2015

The income elasticity of demand of normal goods is

A. Negative
B. Positive
C. Zero
D. Fixed