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Economics 1994 JAMB Past Questions

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21
A major shortcoming of the sole proprietorship form of business is lack of?
  • A. working capital
  • B. patronage
  • C. continuity
  • D. market
View Answer & Discuss (2) JAMB 1994
22
In the event of liquidation of a private limited liability company, the shareholders' liability is limited in their total?
  • A. income from all sources
  • B. family assets
  • C. collateral offered for bank loans
  • D. investment inthe company
View Answer & Discuss JAMB 1994
23
The major factor that causes fluctuations in the supply of agricultural produce is?
  • A. high price
  • B. pests
  • C. weather variations
  • D. rural-urban migration
View Answer & Discuss JAMB 1994
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24
The system of agriculture practice which involves hunting, gathering and growing of food crops for family consumption only is described as?
  • A. peasant agriculture
  • B. plantation agriculture
  • C. co-operative farming
  • D. subsistence farming
View Answer & Discuss (3) JAMB 1994
25
What is the term used to describe a policy aimed at promoting the local production of goods which are usually imported?
  • A. Deregulation
  • B. import substitution
  • C. Tariff reduction
  • D. Backward integration
View Answer & Discuss JAMB 1994
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