JAMB Economics Past Questions & Answers - Page 401

2,001.

Production possibilities(alternatives)
P Q R S T
Units of shelter 5 4 3 2 0
Units of food 0 5 9 12 15 

Based on the above production possibilities table, the real cost of a unit of food when alternative R is selected is?

A.

One unit of shelter

B.

Three units of shelter

C.

One third of a unit of shelter

D.

Six units of shelter

E.

Two units of shelter

Correct answer is C

No explanation has been provided for this answer.

2,002.

Which of the following sets fully represents factors of production?

A.

Sunlight, machinery, man, land

B.

Land, labour, capital, enterprise, technology

C.

Capital, technology, ideas, markets, land

D.

Land, water, weather

E.

Money, market, middlemen

Correct answer is B

No explanation has been provided for this answer.

2,003.

The natural growth rate of a population is the

A.

Sum of the birth rate and the death rate

B.

Sum of the birth rate and the net migrate rate

C.

Birth rate minus death rate

D.

Birth rate divided by the net migration

E.

Death rate minus the net imgration

Correct answer is C

No explanation has been provided for this answer.

2,004.

Which of the following items is NOT an argument for locating industries in rural areas?

A.

Rural areas supply agricultural raw material

B.

The pace of development will be quickened in rural areas

C.

Employment will be provided for rural inhabitants

D.

Capital is easily available in rural areas

E.

Suitable humid climate is sometimes found in rural areas

Correct answer is D

No explanation has been provided for this answer.

2,005.

A downward sloping demand curve intersect a fixed supply curve, a shift of this demand curve to the right implies that?

A.

Both price and quantity will increased

B.

Only price increases

C.

Only quantity increases

D.

The price remains constant

E.

The price falls

Correct answer is A

No explanation has been provided for this answer.