Jamb Economics Past Questions and Answers

Question 2206:

• JAMB 2021

The Power Holding Company of Nigeria (PHCN) is a ____________

A. Public limited company
B. Private authority
C. Public Corporation
D. Public Liability company

Question 2207:

• JAMB 2021

Palm oil industry is located in Old Bendel State because the state ____________

A. Land is suitable for oil
B. Is a palm tree growing area
C. Soil is unsuitable for other crops
D. Imports raw materials for palm oil industry

Question 2208:

• JAMB 2021

Which of the following sets fully represents factors of production?

A. Sunlight, machinery, man, land
B. Land, water, weather
C. Money, market, middlemen
D. Land, labour, capital, enterprise, technology

Question 2209:

• JAMB 2021

Which of the following countries is not a member of the Economic Community of West African States?

A. Sudan
B. Gambia
C. Togo
D. Nigeria

Question 2210:

• JAMB 2021

Oligopoly means ____________

A. Single buyer in the market.
B. Few buyers in the market.
C. Few sellers in the market
D. Many sellers in the market