Factors of Production and their Theories - Jamb Economics Past Questions and Answers

Question 56:

• JAMB 1990

In the distribution channels for goods and services, the middleman's mark-up margin provides a rough measure for the ?

A. Quantity discounts allowed final consumer
B. Reward for business enterpreneurship
C. Effectiveness of government control over the economy's marketing channels
D. Extent of exploitation of the final consumer

Question 57:

• JAMB 1990

Which of the following reasons could induce a manufacturer to bypass the wholesaler in the distribution chain?

A. To provide the quantity needed by retailers
B. To collect useful information on his product
C. To provide warehousing facilities
D. To violate government regulation on distribution

Question 58:

• JAMB 1990

Which of the following is likely to hinder labour mobility in Nigeria?

A. Higher wages elsewhere
B. Cultural similarities
C. Good accommodation elsewhere
D. Ignorance of job opportunities elsewhere

Question 59:

• JAMB 1992

The higher the price of capital relative to the price of labour, the more production techniques should be?

A. Labour-intensive
B. Capital-intensive
C. Fixed
D. Technology-intensive

Question 60:

• JAMB 1992

An important function of the retailer is to?

A. Grant credit to the wholesaler
B. Break bulk and sell products in small units
C. Reduce cost of distribution
D. Generate demand for products through advertisement