Jamb Economics Past Questions and Answers

Question 2126:

• JAMB 2013

Government participation in the oil industry was necessitated by the

A. Annual increase in production
B. Formation of OPEC
C. High demand for crude oil
D. Huge investment outlay

Question 2127:

• JAMB 2013

The deregulation of the petroleum sector in Nigeria will bring about

A. Efficiency in pricing and distribution of the products
B. An end to the importation of fuel
C. An end to foreign firms' dominance
D. Fixing appropriate production quotas

Question 2128:

• JAMB 2013

A distinguishing characteristic of consumer co-operative society is that the

A. The maximum number of shareholders is 20
B. Members are the owners
C. Members are the workers
D. The minimum number of shareholders is 5

Question 2129:

• JAMB 2013

A major disadvantage of partnership business is

A. Difficulty in the transfer of shares
B. Distrust among members
C. Limited liability
D. Large capital outlay

Question 2130:

• JAMB 2013

The quality of labour force in Nigeria can be improved by

A. Establishing more tertiary institutions
B. Creating sufficient job opportunities
C. Encouraging the study of science and technology
D. Establishing more skills acquisition centres