Jamb Economics Past Questions For Year 2003
Question 16
\(\begin{array}{c|c} \text{Out put produced per day (Units)} & \text{Fixed cost per day (N)} & \text{Total cost per day (N)} \\ \hline 20 & 60 & 100 \\ \hline 30 & 60 & 120 \\ \hline 40 & 60 & 130 \\ \hline 50 & 60 & 135 \\ \hline 60 & 60 & 150 \\ \hline 70 & 60 & 170 \\ \hline 80 & 60 & 190\end{array}\)
Using the table above. The ATC at 30 units of output is
- A. â¦3.00
- B. â¦4.00
- C. â¦60.00
- D. â¦120.00
Question 17
In a planned economy, the emphasis is on
- A. public ownership and control
- B. prices and competition
- C. individual choices and decisions
- D. private ownership and control
Question 18
The distinguishing characteristic between the money market and the capital market lies in whether the
- A. securities are primary or secondary
- B. debt instruments provided are long-term or short-term
- C. funds mobilized are private or public
- D. securities are in debentures or ordinary shares
Question 19
The term 'Near money' is best described as
- A. a financial instrument that is readily convertible to cash
- B. government financial instrument that is convertible to cash
- C. time deposits with low interest rates
- D. a financial asset that is convertible to cash
Question 20
Imperfect market is characterized by
- A. perfect mobility of factors of production
- B. many buyers and few sellers
- C. a large number of buyers and sellers
- D. non-preferential treatment
