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

Question 36:

• JAMB 2011

Upstream oil activities involve the

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

Question 37:

• JAMB 2011

The main function of NNPC is to

A. Oversee the development of the oil sector
B. Develop the oil producing area
C. Fix the price of products
D. Ensure regular supply of products

Question 38:

• 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 39:

• JAMB 2020

The most important goal of OPEC is to?

A. Present a united front for the purpose of raise prices of crude oil
B. Bring unity among the petroleum exporting countries
C. Ensure political stability among member states
D. Ensure that rules on quota production are strictly followed

Question 40:

• JAMB 2020

Crude petroleum is a good example of a

A. Lasting asset
B. Wasting asset
C. Synthetic product
D. Costless resources