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

Question 31:

• JAMB 1983

Full employment is a situation in which?

A. Every adult is employed
B. All adults who can work are employed
C. All person who attained the age of 15 and above are employed
D. Only the disabled are not employed
E. All those who are able and eligible can find employment

Question 32:

• JAMB 1984

In discussing the reasons why wages differ between occupations, which of the following should be regarded as a cardinal point that needs to be emphasized?

A. Length and cost of training
B. Demand and supply
C. Attractiveness of the job
D. Influence of the trade union
E. Government intervention

Question 33:

• JAMB 1984

The channel for food distribution in Nigeria consist of?

A. Farmers and their families
B. Producers, wholesalers and retailers
C. Producers and consumers
D. Producers and processor
E. Farmers, processors and consumers

Question 34:

• JAMB 1985

The amount of labour a producer hires relative to labour factor inputs depends on the?

A. Price of labour or it wage
B. Price of labour, machinery and other inputs
C. Price of machinery
D. Price of the other inputs
E. Type of machinery

Question 35:

• JAMB 1985

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

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