Private enterprises - Jamb Economics Past Questions and Answers

Question 6:

• JAMB 2017

A firm owned and managed by a family is an example of ______?

A. Joint stock exchange
B. Cooperative society
C. Sole proprietorship
D. Partnership

Question 7:

• JAMB 2016

One of the characteristics of private enterprises is ______?

A. Provision of welfare to the citizens
B. That tax payers bear all the risks
C. Public ownership of shares
D. Individual funding of business activities

Question 8:

• JAMB 2014

The voting power in co-operative societies is vested on

A. Management
B. Members without loan
C. Shareholders
D. Members with the highest contribution

Question 9:

• JAMB 1978

A distinguishing characteristics of a consumers' cooperative is the fact that

A. The customers are the owners
B. The customers are the workers
C. The customers are the managers
D. The customers are low income people
E. The customers are high income people

Question 10:

• JAMB 1978

The advantage of sole proprietorship is as follow

A. It is always successful
B. Continuity is no problem
C. Control and supervision is under one man
D. Funds are easy to obtain
E. Inter-generational equity is assured