Economics Questions and Answers
Economics questions and answers to help you prepare for JAMB, WAEC, NECO, Post UTME and job aptitude tests or interviews.
Economics questions and answers to help you prepare for JAMB, WAEC, NECO, Post UTME and job aptitude tests or interviews.
The lands that belong to the community is referred to as__________
Sacred land
Individual land
Communal land
Rent land
Correct answer is C
Communal land is a community land.
Import monopoly
Import licence
Import quota
Embargo
Correct answer is C
An import quota is a limit on the amount of goods that can be brought into a particular country. This means importers cannot exceed the quantity of imports permitted on the licence.
The sector which contribute highly to the economy is__________
Primary sector
Secondary sector
Tertiary sector
Education sector
Correct answer is A
Primary sector or extractive occupations include farming, fishing, mining etc workers here form about 65 percent.
One of these is not a way by which government encourage industrialization?
Protection of Infant industries
Establishment of Nigeria Enterprises Promotion Decree
Low Productivity and inefficiency
Establishment of higher institutions
Correct answer is C
Low productivity and inefficiency is not a way by which government encourage industrialization.
Industrialization is the process of_________
Concentrating a firm in a place
Transforming as economy based on extractive to manufacturing
Transferring a government industry to individual
Transforming finished goods into semi-finished goods
Correct answer is B
An industrialization increases the volume of Industrial activities such as manufacturing.