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46
A rational consumer will adjust his spending pattern so that
A.
He buys only the one item that gives him most total satisfaction
B.
The marginal utility he gets from the last unit of item is the same
C.
The marginal utility he gets from the last naira spent on each item is the same
D.
The total utility he gets from each item is the same
E.
The total amount of money he spends on each item is the same
View Answer & Discuss (3)
JAMB 1978
47
Bondholders are treated more favorably than shareholders because
A.
They are not liable for the companies losses
B.
They greater voice in the electing board of the directors
C.
They control the management
D.
They have a prior claim on the companies assets
E.
none of the above
View Answer & Discuss (6)
JAMB 1978
48
which of the following is not true about occupational distribution of the labour force of West Africa?
A.
A large percentage of the labour force is engaged in agriculture
B.
Agriculture is the most important occupation in West Africa
C.
The manufacturing sector employs a large percentage of the population
D.
Agriculture does not constitute an important source of paid employment
E.
The public sector forms an important source of paid employment
View Answer & Discuss (2)
JAMB 1979
49
Which of the following is not true of the theory of optimum population?
A.
It is possible for densely populated country to be underpopulated if it has insufficient labour to make the most effective use of its other factors
B.
The quantity of labour which combined with the other factors gives the minimum output is known as optimum population
C.
The quantity of labour which combined with the other factors, gives the maximum output, is known as optimum population
D.
The test for over-population is whether it exceed the optimum
E.
It is possible for a thinly populated country to be over populated if it has a poor supply of other factor
View Answer & Discuss (7)
JAMB 1979
50
Production covers all but one of the following activities:
A.
changing the position of a good in time as, for example, holding stock of goods until they are required
B.
the provision of some kind of service e.g retailing
C.
changing the form of a good from the raw material to the finished product
D.
changing the situation of a good as for example , from a factory in Lagos to a retail shop in port harcourt
E.
the use of good and services to satisfy individual wants
View Answer & Discuss (17)
JAMB 1979
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