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816
A firm is said to have benefited from external economies in production if it has realized?
  • A. a more efficient management of resources
  • B. a better combination of factors of production
  • C. reduced resources costs due to operation of other firms
  • D. a higher profit level due to increased sales
View Answer & Discuss JAMB 1997
817
One of the dangers of the localization of industries is?
  • A. residual employment
  • B. mass unemployment
  • C. structural unemployment
  • D. cyclical unemployment
View Answer & Discuss JAMB 1997
818
A glut in the world market for crude oil means?
  • A. a fall in crude oil production
  • B. an excess supply of crude petroleum
  • C. a higher crude oil price offered by the buyer
  • D. a higher crude oil price demanded by the seller
View Answer & Discuss JAMB 1997
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819
The main problem of the Organization of Petroleum Exporting Countries is how to?
  • A. prevent members from violating their quota
  • B. enhance the quality of petroleum product
  • C. compete with the North Sea producers
  • D. ensure viable crude reserves
View Answer & Discuss JAMB 1997
820
The most important attribute of money is?
  • A. homogeneity
  • B. relative scarcity
  • C. divisibility
  • D. general acceptability
View Answer & Discuss (1) JAMB 1997
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Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts
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