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

Question 11:

• JAMB 2019

The full meaning of NAPEP is?

A. National Poverty Eradication Programme
B. National Agency for Poverty and Education Program
C. National Air Pollution and Environmental Purification
D. None of the above

Question 12:

• JAMB 2019

The money paid per hour for work done is_________

A. Cost
B. Salary
C. Bonus
D. Wage rate

Question 13:

• JAMB 2019

The factor of production that has the highest degree of mobility is__________?

A. Entrepreneurship
B. Land
C. Labour
D. Capital

Question 14:

• JAMB 2017

Which modal of the factor is inelastic?

A. Wages
B. Capital
C. Labour
D. Land

Question 15:

• JAMB 2016

In Nigeria, unemployment can be minimized through______?

A. Diversification of the economy
B. Strict immigration law
C. Paying unemployment benefits
D. Restrictive fiscal policy