Economics 2022 Jamb Examination
Economics 2022 Jamb Examination
Question 81
An electrical engineer who is teaching physics in a secondary school is said to be
Under-employment occurs when a worker is engaged in a job below their qualification, skill level, or capacity.
An electrical engineer teaching physics is employed, but not in a role that fully utilises their specialised training.
This means they are working, yet not at their optimal professional level, which reflects under-employment.
An electrical engineer teaching physics is employed, but not in a role that fully utilises their specialised training.
This means they are working, yet not at their optimal professional level, which reflects under-employment.
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Question 82
One benefit a country can derive from the extraction of crude oil is increase in
Crude oil extraction is a labour-intensive and capital-driven activity that requires a large workforce in exploration, drilling, refining and distribution.
This creates direct and indirect jobs across several sectors, thereby increasing employment opportunities.
The extraction itself does not directly increase population or money supply, and increased import demand is not a guaranteed outcome.
This creates direct and indirect jobs across several sectors, thereby increasing employment opportunities.
The extraction itself does not directly increase population or money supply, and increased import demand is not a guaranteed outcome.
Not clear enough?
Question 83
Which of the following cannot be classified as a natural resource?
Natural resources are obtained directly from nature without undergoing human processing.
Wildlife, solar energy and gold occur naturally and are used in their natural forms.
An iron rod is a manufactured product obtained through industrial processing of natural iron ore, so it cannot be classified as a natural resource.
Wildlife, solar energy and gold occur naturally and are used in their natural forms.
An iron rod is a manufactured product obtained through industrial processing of natural iron ore, so it cannot be classified as a natural resource.
Not clear enough?
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If the price elasticity of demand for a good is 0.43, an increase in the price of the good will result in____________
Given:
I. shoe maker
II. policemen
III. fishermen
IV. Gardener
V. Broker.
The persons engaged in primary Occupation are
Given:
Net profit b/d.....................N10,000
Interest on capital: M...........N2, 000
....................K...........N1, 000
Partners' salary: K...........N800
Interest on drawings: M...........N500
Profit sharing ratio M and K 3:2
Determine M's share of profit?