Economics 2010 Jamb Examination
Economics 2010 Jamb Examination
Question 11
In developing countries, governments influence the location of industries in order to
Governments often direct industries to specific regions to reduce regional imbalance and promote even economic development.
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Question 12
A disadvantage of Nigeria's dependence on imported petroleum products is the
Heavy reliance on imported petroleum products exposes Nigeria to supply chain disruptions and external shocks.
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Question 13
The maximum number of shareholders for a limited liability company's is
A public limited liability company can admit an unlimited number of shareholders, unlike private companies which have a cap.
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Question 14
One of the characteristics of free trade zone is
A free trade zone allows unrestricted trade among member countries by harmonizing trade relations.
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Question 15
A strategy for curbing unemployment is to
Expansionary fiscal policy through higher government spending and reduced taxes stimulates demand and job creation.
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Question 16
National development plans in Nigeria fail mainly because of
The major reason for failure is weak execution and corruption, leading to poor implementation strategies.
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Question 17
The ultimate aim of agricultural policies in Nigeria is to achieve
Agricultural policies primarily aim to ensure food sufficiency and self-reliance in food production.
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Question 18
Government can boost agricultural output in Nigeria primarily by
Subsidizing farm inputs lowers production costs and directly encourages higher agricultural output.
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Question 19
If MPC is 0.7 while government expenditure increased by N150m, the equilibrium national income is
Multiplier = 1/(1−MPC) = 1/0.3 = 3.33.
ΔY = Multiplier × ΔG = 3.33 × 150 = 500 million.
ΔY = Multiplier × ΔG = 3.33 × 150 = 500 million.
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Question 20
The function of money which makes division of labour possible is its
Division of labour is only possible when goods and services can be exchanged efficiently, which requires money as a medium of exchange.