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Economics 2020 JAMB Past Questions

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21

Fiduciary issue is that part of?

  • A. the issue of notes backed entirely by gold
  • B. a country's currency that is not negotiable
  • C. the issue of notes not backed by gold
  • D. a country's currency officially issued
View Answer & Discuss JAMB 2020
22

The type of business finances that entitles the holder to a fixed rate of dividend is?

  • A. preference stock
  • B. common stock
  • C. debentures
  • D. bank loan
View Answer & Discuss (5) JAMB 2020
23

A company's expenditure on raw materials is regarded as?

  • A. explicit cost
  • B. implicit cost
  • C. prime cost
  • D. average cost
View Answer & Discuss (5) JAMB 2020
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24

Firms are often set up close to each other in order to take advantage of?

  • A. supply of skilled labour
  • B. agglomeration economies
  • C. internal economies of scale
  • D. external economies of scale
View Answer & Discuss (3) JAMB 2020
25

A situation in which a commodity is sold abroad below its cost of production in the home country is known as?

  • A. dumping
  • B. counter trade
  • C. bilateral trade
  • C. trade liberalization
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