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41
Which of the following activities of government precludes the existence of a market economy?
A.
The imposition of taxes
B.
The control of the location of industry
C.
The central planning of production
D.
The fixing of maximum price for all necessities
E.
The establishment of law requiring the registration of business firms
View Answer & Discuss (2)
JAMB 1978
42
Which of the following is NOT strictly included In the study of economics?
A.
The study of wants
B.
The study of choice
C.
Whether a particular want satisfies a good or bad purpose
D.
The study of scarcity
E.
The study of substitution
View Answer & Discuss (2)
JAMB 1978
43
Which of these would NOT increase population of a country
A.
Increase in death rate
B.
Decrease in birth rate
C.
Emigration
D.
Migration
E.
Better medical facilities
View Answer & Discuss (10)
JAMB 1978
44
The optimum population of a country is reached when
A.
All factor of production have been fully employed
B.
The productive effort per man is at its highest with a given volume of resources
C.
The total population of a country increases
D.
The natural resources of a country increases
E.
The working population of a country increases
View Answer & Discuss (4)
JAMB 1978
45
In economics, production is complete when
A.
Goods are produced in the factory
B.
Goods are sold to the wholesalers
C.
Goods and services are produced by the government
D.
Prices are fixed for goods and services
E.
Goods and services finally reach the consumer
View Answer & Discuss (1)
JAMB 1978
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