JAMB Economics Past Questions & Answers - Page 238

1,186.

Two basic features common to an industry are

A.

Production processes and source of capital

B.

Source of capital and labour supply

C.

Similarity of products and source of raw materials

D.

Similarity of products and production processes

Correct answer is D

No explanation has been provided for this answer.

1,187.

The major role of multi-national companies in the petroleum industry in Nigeria is

A.

The establishment of refineries

B.

Oil marketing and prospecting

C.

Oil marketing only

D.

Oil prospecting only

Correct answer is B

No explanation has been provided for this answer.

1,188.

The stock exchange is a market for the buying and selling of

A.

Monetary instruments

B.

New shares

C.

Existing shares

D.

Treasury bills

Correct answer is C

No explanation has been provided for this answer.

1,189.

To compare the standard of living among nations, the most widely used economic indicator is the

A.

Real gross national income

B.

Real domestic output

C.

Real per capita income

D.

Per capita nominal income

Correct answer is C

No explanation has been provided for this answer.

1,190.

The solution to the problem of double coincidence of wants requires a buyer and seller whose demands are precisely

A.

Competitive

B.

Composite

C.

Supplementary

D.

Complementary

Correct answer is D

No explanation has been provided for this answer.