External economies of scale - Jamb Economics Past Questions and Answers

Question 1:

• JAMB 2019

A demand which gives rise to the reverse of the law of demand is__________

A. Derived demand
B. Joint demand
C. Abnormal demand
D. Composite demand

Question 2:

• JAMB 2018

External economies arises essentially from__________

A. A firm's individual policies
B. Localisation of industry
C. Government economic policy
D. Free transferability of shares

Question 3:

• JAMB 2015

How can a firm benefit from external economies?

A. Increasing its expenditure on advertising
B. Increasing the workforce
C. Locating in an area in which the industry is already established
D. Merging with another domestic firm engaged in the same industry

Question 4:

• JAMB 1986

Which of the following is an external economy derived by a firm?

A. Low cost opportunities enjoyed by being in a place where other producers concentrate
B. Technical economics enjoyed by varying the factors of production
C. Economics of management by putting administrators where the are most efficient
D. Marketing advantages attained through preferential treatment in the purchase and distribution of produce