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    Home MCQ examination Jamb Economics 2008

    Economics 2008 Jamb Examination

    Economics 2008 Jamb Examination
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    1234

    Question 11

    A high rent on land will affect the cost of producing maize
    Show explanation Expand Question
    High land rent increases the cost burden on farmers, thereby negatively affecting maize production costs.
    Not clear enough?

    Question 12

    If the active population is 50 million and unemployed is 5 million what is the unemployment rate?
    Show explanation Expand Question
    Unemployment rate = (Unemployed ÷ Active population) × 100 = (5 ÷ 50) × 100 = 10%.
    Not clear enough?

    Question 13

    A classroom teacher is promoted to the rank of a principal. This is an example of
    Show explanation Expand Question
    The promotion involves movement to a higher position within the same occupation, which is an instance of horizontal mobility.
    Not clear enough?

    Question 14

    The economic policy of privatization came up as a result of the poor performance of
    Show explanation Expand Question
    Privatization was adopted to address inefficiencies and poor performance of public enterprises.
    Not clear enough?

    Question 15

    Joint-stock companies can raise funds from
    Show explanation Expand Question
    Joint-stock companies can obtain capital through diverse means such as issuing shares, borrowing, and other financial sources.
    Not clear enough?

    Question 16

    The active population of a country determines the size of its
    Show explanation Expand Question
    The active population forms the labour force, which drives productive capacity in an economy.
    Not clear enough?

    Question 17

    The population of a country will decrease if
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    When the death rate surpasses the birth rate, more people die than are born, leading to population decline.
    Not clear enough?

    Question 18

    The OPEC marketing policy of fixing minimum price allows members to
    Show explanation Expand Question
    OPEC sets a floor price; member countries can sell at or above this level but not below it.
    Not clear enough?

    Question 19

    One of the effects of instability in farmer's income in Nigeria is
    Show explanation Expand Question
    Income instability often pushes farmers to migrate to urban areas in search of stable earnings.
    Not clear enough?

    Question 20

    A major impediment to the development of agriculture in Nigeria is
    Show explanation Expand Question
    Agricultural growth is hindered by the inadequate supply of essential farm inputs like fertilizers and improved tools.
    Not clear enough?
    1234

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