JAMB Economics Past Questions & Answers - Page 44

216.

The business risks of a public corporation are borne ultimately________

A.

By the government

B.

By the treasury

C.

By the rate payers

D.

By the tax payers

Correct answer is D

Public corporation also known as statutory corporation or public enterprise risks of the business are borne by the government and the tax payers but the tax payer share the greater burden because the money is used to run the business.

217.

One of these is not a problem of agriculture___________

A.

Provision of employment

B.

Lack of preservation and storage facilities

C.

Land tenure system

D.

Poor transportation systems

Correct answer is A

Provision or providing productive employment is not a problem of agriculture.

219.

The birth rate in 1976 for a certain country with a population of 10m was 8.0. This means that in 1976,__________

A.

There were 80,000 live births in the country

B.

There were 6,400 live births in the country

C.

There were 8 live births to every 100 women in working-class families

D.

8 in every 1000 women of 21 - 45 gave birth to a live child

Correct answer is A

Since the population in the country is 10m and 8.0 gave birth to live child. Then 80,000 child were given birth in the country in 1976.

220.

External economies arises essentially from_________

A.

A firm's individual policies

B.

Localisation of industry

C.

Government economic policy

D.

Free transferability of shares

Correct answer is B

External economies are the benefits a firm derives from concentration or localisation of industries in a particular area or the benefits a firm enjoys from increase in its output and decrease in cost as a result of the kind of assistance it derives from other firms.