JAMB and WAEC Economics questions

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

1. Question 21· Agriculture in Nigeria· JAMB

   The 'Green Revolution' programme in Nigeria (1980) aimed to

   • Abuild roads
   • Bexpand oil exports
   • Cincrease food production
   • Dreduce the population

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   Explanation and discussion

2. Question 22· Agriculture in Nigeria· JAMB

   A major problem of agriculture in Nigeria is

   • Atoo much mechanisation
   • Bthe use of crude implements on small farms
   • Ca shortage of land
   • Dexcessive export demand

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   Explanation and discussion

3. Question 23· Agriculture in Nigeria· WAEC

   Nigeria's dependence on crude oil since the 1970s led to

   • Amore farm workers
   • Bgrowth of cocoa exports
   • Cfall in food imports
   • Dneglect of agriculture

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   Explanation and discussion

4. Question 24· Agriculture in Nigeria· JAMB

   Storage facilities help farmers mainly by

   • Acutting yields
   • Braising rainfall
   • Cincreasing pests
   • Dreducing post-harvest losses and stabilising prices

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   Explanation and discussion

5. Question 25· Agriculture in Nigeria· WAEC

   A problem of agriculture in Nigeria is

   • Afew farmers
   • Btoo much mechanisation
   • Cexcess credit
   • Dpoor storage and processing facilities

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   Explanation and discussion

6. Question 26· Agriculture in Nigeria· JAMB

   Agricultural produce marketing boards in Nigeria were abolished in

   • A1999
   • B1960
   • C1986
   • D1975

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   Explanation and discussion

7. Question 27· Agriculture in Nigeria· WAEC

   Subsistence farming means producing

   • Aonly cash crops
   • Bmainly for export
   • Cmainly for the family's own consumption
   • Dwith heavy machinery

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   Explanation and discussion

8. Question 28· Agriculture in Nigeria· WAEC

   Agriculture contributes to economic development by

   • Aproviding raw materials for industries
   • Breducing food supply
   • Cincreasing imports of food
   • Dlowering employment

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   Explanation and discussion

9. Question 29· Agriculture in Nigeria· WAEC

   Which of these is a major cash crop grown in northern Nigeria?

   • Acocoa
   • Bgroundnut
   • Crubber
   • Doil palm

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   Explanation and discussion

10. Question 30· Agriculture in Nigeria· JAMB

    Agricultural credit schemes in Nigeria are designed to

    • Afix crop prices
    • Btax farmers
    • Cimport food
    • Dprovide loans to farmers

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    Explanation and discussion

11. Question 31· Business organisations· JAMB

    A major disadvantage of a sole proprietorship is

    • Akeeping all profits
    • Bquick decision-making
    • Cunlimited liability
    • Dclose contact with customers

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    Explanation and discussion

12. Question 32· Business organisations· WAEC

    A sole proprietorship is common in Nigeria because

    • Ait has limited liability
    • Bit has unlimited capital
    • Cit is owned by government
    • Dit needs small capital and is easy to start

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    Explanation and discussion

13. Question 33· Business organisations· WAEC

    Limited liability means shareholders

    • Acannot vote
    • Bare liable for all debts
    • Ccan lose only the amount they invested
    • Dshare no profits

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    Explanation and discussion

14. Question 34· Business organisations· WAEC

    Chinedu provides all the capital for his provision shop, takes all decisions and keeps all the profit. His business is a

    • Asole proprietorship
    • Bpartnership
    • Cprivate limited company
    • Dcooperative society

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    Explanation and discussion

15. Question 35· Business organisations· JAMB

    An advantage of a partnership over a sole proprietorship is

    • Amore capital and shared skills
    • Blimited liability for all partners
    • Cperpetual existence
    • Dno need for agreement

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    Explanation and discussion

16. Question 36· Business organisations· WAEC

    A major advantage of a public limited company is that it

    • Ahas unlimited liability
    • Bcan raise capital from the public by selling shares
    • Cis owned by government
    • Dkeeps its accounts secret

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    Explanation and discussion

17. Question 37· Business organisations· JAMB

    A partnership's main advantage over a sole proprietorship is

    • Amore capital and shared skills
    • Blimited liability for all
    • Cperpetual succession
    • Dno disagreements

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    Explanation and discussion

18. Question 38· Business organisations· WAEC

    The usual maximum number of partners in an ordinary trading partnership is

    • A10
    • B50
    • C7
    • D20

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    Explanation and discussion

19. Question 39· Business organisations· JAMB

    Co-operative societies are run on the principle of

    • Aone member, one vote
    • Bone share, one vote
    • Cthe largest shareholder decides
    • Dgovernment control

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    Explanation and discussion

20. Question 40· Business organisations· JAMB

    A private limited company cannot

    • Aborrow money
    • Bhave shareholders
    • Cmake profit
    • Doffer its shares to the general public

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    Explanation and discussion