Types Features And Rewards Of Factors Of Production - Economics Jamb Past Questions and Answers

Question 16 :

• JAMB 1985

Warehousing facilities in the distribution and marketing of products are provided by?

A. Manufacturers
B. Wholesalers
C. Retailers
D. Consumers
E. Sellers

Question 17 :

• JAMB 1987

The residual of production which accrues to the owner of land after all other expenses have been met is called?

A. Wages
B. Rent
C. Interest
D. Profit

Question 18 :

• JAMB 1987

The form of capital which is usually consumed or transformed into finished goods and services in the production process is called?

A. Industrial capital
B. Social capital
C. Fixed capital
D. Circulating capital

Question 19 :

• JAMB 1989

if X represent the factors of production and Y represent the factor price, which of the following sets of association is correct?

A. (land, rent) (capital, wage), (labour, profit)
B. (land, interest) (capital,profit), (labour, wage),
C. (land, wage), (capital, interest), (labour,rent),
D. (land,rent), (capital, interest), (labour, wage),

Question 20 :

• JAMB 1990

Which of following rewards is associated with entrepreneurship as a factor of production?

A. Salaries
B. Profit
C. Interests
D. Rents