Economics 2009 Jamb Examination
Economics 2009 Jamb Examination
Question 11
To enhance the competitiveness of domestic agricultural products, there is need to
Enhancing competitiveness in the global market requires improving the quality of products to meet international standards.\(\therefore\) The correct answer is improving the quality of domestic agricultural products.
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Question 12
In Nigeria, the location of a steel industry at Ajaokuta is due to
Steel industries are located close to raw material sources to minimize transport costs. Ajaokuta is located near iron ore deposits.\(\therefore\) The correct reason is proximity to large deposits of iron ore.
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Question 13
Industries for consumer goods are concentrated in urban centers as a result of
Urban centers provide a large market for consumer goods, which encourages concentration of industries.\(\therefore\) The correct factor is large market.
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Question 14
The current industrial development strategy in Nigeria is aimed at encouraging
The Nigerian industrial policy focuses on encouraging small and medium-scale enterprises (SMEs) to foster growth and employment.\(\therefore\) The correct answer is small-and medium-scale industries.
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Question 15
Dumping in international trade means selling a goods at a
Dumping occurs when a country sells goods at a higher price at home and at a lower price abroad to capture foreign markets.\(\therefore\) The correct meaning is selling at a higher price at home than abroad.
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Question 16
Guided deregulation as currently practised in Nigeria implies that
Guided deregulation is a mixed system where both market forces and government jointly influence interest and exchange rates.\(\therefore\) The correct answer is market forces and government determine interest and exchange rates.
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Question 17
An important function of the World Bank is to
The World Bank's main function is providing long-term loans for development projects in member countries.\(\therefore\) The correct function is to provide long-time loans to members.
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Question 18
The major problem confronting a sole proprietor is
The sole proprietor faces difficulty in raising adequate capital due to limited personal funds.\(\therefore\) The major problem is limited source of capital.
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Question 19
A public liability company is run on a daily basis by
The shareholders elect a board of directors that manages the daily affairs of a public liability company.\(\therefore\) The correct answer is the board of directors.
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Question 20
If government expenditure exceeds revenue, this result in
When expenditure exceeds revenue, the budget is in deficit.\(\therefore\) The result is a budget deficit.
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"Now, by yond marble heaven,
In the due reverence of a sacred vow
I here enrage my words." (Shakespeare's Othello)
The prevailing activity in the extract is
Choose the word or phrase which is most nearly opposite in meaning to the word in capitals.
ABOMINATE :
A man invests half his capital at the rate of 10% per annum, one third at 9% and the rest at 12% per annum. The average rate of interest per annum, which he gets, is ?