Jamb Economics Past Questions For Year 2020
Question 21
A company's expenditure on raw materials is regarded as?
- A. explicit cost
- B. implicit cost
- C. prime cost
- D. average cost
Question 22
The type of business finances that entitles the holder to a fixed rate of dividend is?
- A. preference stock
- B. common stock
- C. debentures
- D. bank loan
Question 23
When a country's population is experiencing increasing returns, that country is said to be?
- A. overpopulated
- B. economically poor
- C. over-producing goods and services
- D. under-populated
Question 24
Plywood industries are often located near the source of?
- A. finance
- B. labour
- C. power supply
- D. raw materials
Question 25
The most important goal of OPEC is to?
- A. present a united front for the purpose of raise prices of crude oil
- B. bring unity among the petroleum exporting countries
- C. ensure political stability among member states
- D. ensure that rules on quota production are strictly followed
