Economics Questions and Answers
Economics questions and answers to help you prepare for JAMB, WAEC, NECO, Post UTME and job aptitude tests or interviews.
Economics questions and answers to help you prepare for JAMB, WAEC, NECO, Post UTME and job aptitude tests or interviews.
Non-economic factors that influence the location of firms include _______
The existence of required materials for production
Availability of population of buyers
Adequate supply of power, good road and rail network
The activities of politicians in deciding location of firms
Correct answer is D
No explanation has been provided for this answer.
The supply of land for agricultural purpose can be increased through ______
The introduction of mechanized farming
Reclamation and irrigation
Increase in prices of land
Conversion of building sites to farmlands
Correct answer is B
No explanation has been provided for this answer.
Two factors which can improve the efficiency of labour are________
Population size and age of retirement
School leaving age and number of disabled workers
Work environment and health status of workers
School leaving age and number of part-time workers
Correct answer is C
No explanation has been provided for this answer.
By passing the middlemen in the chain of distribution can lead to _________
A problem of unemployment of labour
The creation of artificial scarcity
High prices of goods and services
An increase in government tax revenue
Correct answer is A
No explanation has been provided for this answer.
Separation of ownership of resources and their control is mostly found in a _________
Sole proprietorship
Partnership
Joint stock company
Consumer cooperative
Correct answer is C
No explanation has been provided for this answer.