Natural Resources and the Nigerian Economy - Jamb Economics Past Questions and Answers

Question 31:

• JAMB 2007

Upstream oil activities involve the

A. Exploration of crude oil
B. Refining of crude oil
C. Marketing of finished products
D. Management of pollution

Question 32:

• JAMB 2008

The activities in the oil and gas industry are classified into

A. Exploration and transportation
B. Upstream and downstream
C. Discovery and extraction
D. Onshore and offshore

Question 33:

• JAMB 2008

The OPEC marketing policy of fixing minimum price allows members to

A. Sell above minimum price
B. Sell below minimum price
C. Determine the price and quantity to sell
D. Negotiate price with customers

Question 34:

• JAMB 2009

Activities in the oil and gas industry are classified into

A. Oil exploration and distribution
B. Refining and marketing of finished products
C. Upstream and downstream
D. Exploration and drilling

Question 35:

• JAMB 2010

A disadvantage of Nigeria's dependence on imported petroleum products is the

A. Instability in the demand for the products
B. Dominance of multinational firms
C. Instability in the supply of the product
D. Poor maintenance of the refineries