The Theory of Production - Jamb Economics Past Questions and Answers

Question 36:

• JAMB 1979

Which of these is not usually the function of a wholesaler?

A. Transport
B. Storage
C. Advertising
D. After-sale services
E. Branding

Question 37:

• JAMB 1979

When the average physical product curve is rising the marginal physical product is

A. Below it
B. Above it
C. Falling
D. Zero
E. None of the above

Question 38:

• JAMB 1980

Production in Economics occurs when

A. A commodity or service is sold
B. Utility is created or added
C. A commodity is manufactured
D. Raw materials are produced or extracted from mines
E. All of these

Question 39:

• JAMB 1980

Production in Economics occurs when

A. A commodity or service is sold
B. Utility is created or added
C. A commodity is manufactured
D. Raw materials are produced or extracted from mines
E. All of these

Question 40:

• JAMB 1980

Division of labour means?

A. The labour is divided into different section
B. The work is divided into different parts to be completed by each labour
C. Production is completed by the different department of a factory
D. Commodities are produced at different times by a single labourer
E. The labour force in the country is not united