NECO offline past questions - All questions, answers & explanations in one app 25712
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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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NECO offline past questions - All questions, answers & explanations in one app 25712
86
The price mechanism
  • A. regulates supply and demand
  • B. rations the consumers
  • C. rewards the producers
  • D. allocates scarce resources
  • E. does all of the above
View Answer & Discuss (3) JAMB 1979
87
When marginal cost equals marginal revenue of products
  • A. the firms is producing at a loss
  • B. the firm is at a break-even point
  • C. the firm is making the least profit
  • D. the supplementary cost of the firm is highest
  • E. the firm has maximum profit
View Answer & Discuss (7) JAMB 1979
88
Disposable income equals
  • A. personal income less business profits
  • B. personal inome minus taxes and subsidies
  • C. national income less borrowing from abroad
  • D. national income plus transfer of payments
  • E. personal income less taxes plus subsidies
View Answer & Discuss JAMB 1979
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NECO offline past questions - All questions, answers & explanations in one app 25712
Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts
89
What do we call a market where there is large number of buyers and sellers, such that no one has an appreciable influence over prices?
  • A. Free market
  • B. Perfectly competitive market
  • C. Controllled market
  • D. Stock exchange market
  • E. Open market
View Answer & Discuss JAMB 1979
90
A typical corporate form of business organization is owned by
  • A. President of a country
  • B. Shareholders
  • C. The general manager and the executives
  • D. A local government
  • E. Foreigners and citizens of the country
View Answer & Discuss JAMB 1979
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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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