JAMB Economics questions

378 questions with answers and explanations. Tap an option to check yourself.

1. Question 21· Business organisations· JAMB

   Perpetual succession means a company

   • Adies with its owner
   • Bcontinues to exist despite changes in owners
   • Cmust close yearly
   • Dhas one owner

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2. Question 22· Business organisations· JAMB

   Limited liability means that shareholders

   • Acan lose only the money they invested in the company
   • Bmust pay all the company's debts
   • Ccannot sell their shares
   • Dmanage the company daily

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3. Question 23· Business organisations· JAMB

   The shares of a public limited company can be

   • Atransferred only with government approval
   • Bheld by only one person
   • Csold only to family members
   • Dsold to the general public through the stock exchange

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4. Question 24· Business organisations· JAMB

   Public corporations are owned by

   • Aa single individual
   • Bshareholders on the stock exchange
   • Cthe government
   • Dpartners

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5. Question 25· Business organisations· JAMB

   Public enterprises are set up mainly to

   • Aprovide essential services
   • Bmaximise private profit only
   • Cpay dividends to shareholders
   • Dcompete abroad

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6. Question 26· Business organisations· JAMB

   A public limited company can raise capital by

   • Aissuing shares to the public
   • Bprinting money
   • Ccollecting taxes
   • Dfixing prices

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7. Question 27· Business organisations· JAMB

   The profits of a public corporation are mainly used for

   • Apaying private shareholders
   • Bimproving services or paid to government
   • Cadvertising
   • Dpaying taxes abroad

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8. Question 28· Business organisations· JAMB

   A holding company is one that

   • Aholds only cash
   • Bowns controlling shares in other companies
   • Cis owned by the government
   • Ddoes not trade

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9. Question 29· Business organisations· JAMB

   The main source of capital for a sole proprietor is

   • Adebentures
   • Bthe sale of shares
   • Chis personal savings
   • Dgovernment grants

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10. Question 30· Business organisations· JAMB

    A producer cooperative is formed by

    • Aproducers who pool resources to produce and market goods
    • Bconsumers only
    • Cbanks
    • Dgovernment

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11. Question 31· Economic growth and development· JAMB

    Foreign aid can help development by

    • Araising illiteracy
    • Bincreasing debt only
    • Creducing exports
    • Dproviding capital and technical skills

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12. Question 32· Economic growth and development· JAMB

    The vicious circle of poverty describes how

    • Aexports equal imports
    • Bhigh income causes inflation
    • Cpopulation growth always stops
    • Dlow income leads to low saving, low investment and therefore low income again

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13. Question 33· Economic growth and development· JAMB

    An economy that depends heavily on a single export such as crude oil is described as

    • Aa closed economy
    • Ba diversified economy
    • Ca mono-product economy
    • Da command economy

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14. Question 34· Economic growth and development· JAMB

    Economic development differs from economic growth because development also involves

    • Aonly population growth
    • Bonly an increase in GDP
    • Cimprovements in living standards and economic structure
    • Da rise in imports

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15. Question 35· Economic growth and development· JAMB

    Sustainable development means

    • Aignoring the environment
    • Brapid exploitation of resources
    • Cmeeting present needs without compromising future generations
    • Dstopping growth

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16. Question 36· Economic growth and development· JAMB

    Saving is important for economic growth because it

    • Araises consumption
    • Breduces production
    • Cprovides funds for investment
    • Dincreases imports

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17. Question 37· Economic growth and development· JAMB

    The Human Development Index combines measures of

    • Apopulation and land area
    • Blife expectancy, education and income
    • Cexports and imports
    • Dinflation and unemployment

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18. Question 38· Economic growth and development· JAMB

    Infrastructure includes

    • Aonly factories
    • Broads, power and water supply
    • Conly farms
    • Donly banks

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19. Question 39· Economic growth and development· JAMB

    An indicator of economic development is

    • Ahigher infant mortality
    • Brising illiteracy
    • Ca rising Human Development Index
    • Dfalling life expectancy

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20. Question 40· Economic growth and development· JAMB

    Capital formation means

    • Aprinting money
    • Bthe increase in the stock of capital goods
    • Cconsumption
    • Dimporting food

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    Explanation and discussion