Jamb Economics 2020 Past Questions and Answers

Question 21:

• JAMB 2020

Fiduciary issue is that part of?

A. The issue of notes backed entirely by gold
B. A country's currency that is not negotiable
C. The issue of notes not backed by gold
D. A country's currency officially issued

Question 22:

• JAMB 2020

The type of business finances that entitles the holder to a fixed rate of dividend is?

A. Preference stock
B. Common stock
C. Debentures
D. Bank loan

Question 23:

• JAMB 2020

A company's expenditure on raw materials is regarded as?

A. Explicit cost
B. Implicit cost
C. Prime cost
D. Average cost

Question 24:

• JAMB 2020

Firms are often set up close to each other in order to take advantage of?

A. Supply of skilled labour
B. Agglomeration economies
C. Internal economies of scale
D. External economies of scale

Question 25:

• JAMB 2020

A situation in which a commodity is sold abroad below its cost of production in the home country is known as?

A. Dumping
B. Counter trade
C. Bilateral trade
D. Trade liberalization