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2946
How can a firm benefit from external economies?
  • A. Increasing its expenditure on advertising
  • B. Increasing the workforce
  • C. Locating in an area in which the industry is already established
  • D. Merging with another domestic firm engaged in the same industry
View Answer & Discuss JAMB 2015
2947

A smaller industry that grows to cater for the need of the major industry is

  • A. subsidiary industry
  • B. constructive industry
  • C. manufacturing industry
  • D. infant industry
View Answer & Discuss JAMB 2015
2948
In the diagram, the consumer budget line shift from JK to GH. What can definitely be deduced from the diagram?
  • A. There has been an increase in the consumer’s money income
  • B. There has been a reduction in the price of both A and B
  • C. There has been no change in the price of A or B
  • D. There has been no change in the price of A relative to the price of B
View Answer & Discuss (4) JAMB 2015
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2949
What would encourage the growth of international division of labour?
  • A. Improvement in transport system
  • B. Instability in international exchange rate
  • C. Restrictions on the movement of resources
  • D. increase in tariff
View Answer & Discuss (3) JAMB 2015
2950
The demand and supply functions of commodity x are given as follows: Qd = 20- 2p, Qs = 6p - 12 where p = price, Qd = quantity demanded and Qs = quantity supplied. Determine the equilibrium price
  • A. N4
  • B. N8
  • C. N2
  • D. N10
View Answer & Discuss (3) JAMB 2015
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