JAMB Economics questions

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

1. Question 101· Financial institutions· JAMB

   Treasury bills are

   • Ainsurance policies
   • Blong-term company shares
   • Cbank notes
   • Dshort-term government securities

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   Explanation and discussion

2. Question 102· Financial institutions· JAMB

   Raising the cash reserve ratio is used by the Central Bank to

   • Aprint more money
   • Bincrease the money supply
   • Clower interest rates
   • Dreduce banks' ability to lend

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   Explanation and discussion

3. Question 103· Financial institutions· JAMB

   The Nigerian Exchange (stock exchange) is a market where

   • Agoods are imported
   • Bforeign currencies are printed
   • Cshares and other securities are bought and sold
   • Dtaxes are paid

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   Explanation and discussion

4. Question 104· Financial institutions· JAMB

   A function of the Central Bank of Nigeria is to

   • Arun supermarkets
   • Bgrant loans to individuals
   • Ccollect personal income tax
   • Dissue the national currency

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   Explanation and discussion

5. Question 105· Industry and industrialisation· JAMB

   Export promotion strategy encourages

   • Aproduction of goods for foreign markets
   • Bonly imports
   • Cclosing factories
   • Dsubsistence farming

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   Explanation and discussion

6. Question 106· Industry and industrialisation· JAMB

   Industrial estates are set up mainly to

   • Ahouse farmers
   • Bprovide ready infrastructure for industries
   • Cstore crops
   • Dtrain civil servants

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   Explanation and discussion

7. Question 107· Industry and industrialisation· JAMB

   An advantage of the localisation of industry is

   • Athe development of a pool of skilled labour and ancillary services
   • Btraffic congestion
   • Cpollution
   • Dhigher land prices

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8. Question 108· Industry and industrialisation· JAMB

   The indigenisation policy of the 1970s in Nigeria aimed to

   • Aabolish taxes
   • Battract more foreign firms
   • Cclose all factories
   • Dincrease Nigerian ownership and control of businesses

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9. Question 109· Industry and industrialisation· JAMB

   An industrial estate is

   • Aan area set aside and serviced for factories
   • Ba farm
   • Ca market
   • Da residential area only

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10. Question 110· Industry and industrialisation· JAMB

    A problem facing Nigerian manufacturers is

    • Acheap credit
    • Btoo much electricity
    • Cepileptic power supply
    • Dexcess skilled labour

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    Explanation and discussion

11. Question 111· Industry and industrialisation· JAMB

    A 'footloose' industry is one that

    • Ais always near a port
    • Bhas no workers
    • Cis not tied to the location of raw materials or markets
    • Duses only local labour

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12. Question 112· Industry and industrialisation· JAMB

    Export Processing Zones are set up to

    • Aattract investment by offering incentives to export-oriented firms
    • Bstop exports
    • Ccollect import duty
    • Dbuild houses

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13. Question 113· Industry and industrialisation· JAMB

    A major problem facing small-scale industries in Nigeria is

    • Atoo many customers
    • Binadequate access to credit
    • Cexcess government support
    • Dlow cost of power

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14. Question 114· Industry and industrialisation· JAMB

    Import substitution industrialisation means

    • Aexporting raw materials
    • Bimporting more goods
    • Cproducing locally goods that were formerly imported
    • Dbanning all imports

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15. Question 115· Industry and industrialisation· JAMB

    Infant industries may be protected by tariffs so that they can

    • Aclose down
    • Bgrow until they can compete with foreign firms
    • Cexport immediately
    • Davoid paying wages

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16. Question 116· Industry and industrialisation· JAMB

    Cement factories in Nigeria are usually located near

    • Asources of limestone
    • Bthe seaports only
    • Cthe federal capital
    • Drivers only

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17. Question 117· Industry and industrialisation· JAMB

    The Nigerian Content Development policy in the oil sector aims to

    • Aincrease local participation and use of Nigerian goods and services
    • Bimport all equipment
    • Csell oil blocks to foreigners only
    • Dclose refineries

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18. Question 118· Industry and industrialisation· JAMB

    Industrialisation can reduce unemployment by

    • Areducing output
    • Bcreating jobs in factories and related services
    • Cincreasing imports
    • Dclosing farms

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19. Question 119· Industry and industrialisation· JAMB

    Small and medium enterprises are important because they

    • Aemploy no one
    • Bneed huge capital
    • Conly import goods
    • Dcreate jobs and use local resources

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20. Question 120· International economic organisations· JAMB

    The headquarters of the African Development Bank is in

    • ANairobi
    • BLagos
    • CAddis Ababa
    • DAbidjan

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    Explanation and discussion