Economics Past Questions | JAMB, WAEC, NECO and Post UTME Past Questions

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Question 11

which of the following is an important function of the retailer?


A) Grant credit to the wholesaler

B) Breaks bulk and sales product in small units

C) Reduces cost of distribution

D) Generates demand for production through advertisement

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Question 12

One of the purposes of advertisement in marketing is to?


A) change the quality of the product

B) raise the quantity of the product demanded as its price falls

C) shift the demand curve for the product to the right

D) raise production cost

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Question 13

The size of a business units tends to be small if the activity?


A) involves mass production of goods

B) requires a large capital

C) requires division of labour

D) involves the provision of direct services

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Question 14

Which type of business organization has the attribute of effectively combining management with control?


A) sole proprietorship

B) Partnership

C) Limited liability company

D) Co-operatives

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Question 15

The co-operative as a form of business organization differs from partnership by having?


A) serveral sources of capital for business financing

B) ability to issue preferred stocks to members

C) entrenched democratic control in the conduct of business

D) established rules and regulations governing the activities of its members

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Question 16

the type of business finance that entitle the holder to a fixed rate of dividend is?


A) perferred stock

B) common stock

C) debenture stock

D) bank loan

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Question 17

Which of the business organization listed below is characterized by limited authority and liability of the individual owners?


A) Sole properitorship

B) Partnership

C) Joint stock company

D) Co-operative society

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Question 18

A company is said to be highly geared if the?


A) value of fixed interest loans is high compared with share capital

B) Value of shared capital is high compared with fixed interest loans

C) dividend rate is high

D) interest rate is high

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Question 19

Industries that can be randomly located are characterized by?


A) relatively low transport cost for both raw materials and output and factor mobility

B) relatively heavy transport cost for raw material or output

C) constant returns to scale

D) signficant economy of scale

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Question 20

The term 'double coincidence ' of wants is usually associated with a?


A) bilateral exchange mechanism

B) monetary exchange mechanism

C) stock exchange system

D) barter exchange mechanism

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