Jamb Economics Past Questions and Answers

Question 2291:

• JAMB 2022

Cooperative societies are formed mainly to

A. Assist producers to maximize their profits
B. Encourage thrift and credit among members
C. Promote and maintain the welfare of members
D. Break the monopolies of private companies

Question 2292:

• JAMB 2022

A disadvantage of a jont-stock company is

A. Unlimited liability
B. Limited liability
C. Lack of continuity when a shareholder dies
D. Limited control in management by shareholders

Question 2293:

• JAMB 2022

The middlemen is responsible for

A. Providing research facilities
B. Purchasing raw materials
C. Designing the product
D. Breaking the bulk

Question 2294:

• JAMB 2022

A major function of the retailer is to

A. Grant credit to the wholesaler
B. Break bulk and sell products in small units
C. Reduce cost of distribution
D. Generate demand for products through advertisement

Question 2295:

• JAMB 2022

A positive effect of a rapid population increase is

A. An excessive budget deficit
B. A reduction in standard of living
C. A wider market for goods and services
D. A higher dependency ratio