Economics JAMB Practice CBT Questions & Answers 2021 SET 1
1. The privatization of public enterprises will lead to efficient management of resources in the economy. This statement can best be described as_____________
A. deductive reasoning
B. positive reasoning
C. normative reasoning
D. inductive reasoning
Correct Answer: Option A
2.The type of business finance that entitles the holder to a fixed rate of dividend is______________--
A. bank load
B. debenture
C. preferred stock
D. semi-fixed
Correct Answer: Option C
3. In the long run, all production factors are____________
A. variable
B. fixed
C. semi-variable
D. semi-fixed
Correct Answer: Option A
4.Commercial bank reserves at the Central Bank____________
A. advancing trade, prospects
B. controlling credit and money supply
C. reducing bank frauds
D. discouraging banking operations
Correct Answer: Option A
5.If the standard deviation of a given data is 8.2, find its variance_______________
A. 82.0
B. 91.8
C. 67.2
D. 4.1
Correct Answer: Option C
6. The ultimate objectives of economics is to_________?
A. decide under what circumstances that government should intervene in the economy
B. Organize production at the lowest cost
C. Make the best use of scarce resources
D. make efforts to understands how the economy works
Correct Answer: Option C
7.The savings deposit in a commercial bank is called____________?
A. near money
B. call money
C. capital
D. fund
Correct Answer: Option C
8.A major determinant of the demand for a luxury good is____________?
A. the price of other goods
B. the price of the good
C. tastes and fashion
D. the income of consumers
Correct Answer: Option A
9.When a variable is associated with time period, it is_____________
A. circular
B. a flow
C. static
D. a stock
Correct Answer: Option A
10.The factor of production that has the highest degree of mobility is__________?
A. entrepreneurship
B. land
C. labour
D. capital
Correct Answer: Option C
11.The minimum number of share holders for joint stock companies is_______________
A. 4
B. 2
C. 7
D. 3
Correct Answer: Option C
12. If a demand curve that intersects a perfectly inelastic supply curve shift is rightward, then____________
A. only the quantity will increase
B. The prices will remain constant
C. the equilibrium price and quantity will increase
D. only the price will increase
Correct Answer: Option C
13. The basic economic problems of society include___________
A. scarcity, for whom to produce and where
B. what to produce, how and for whom
B. scarcity, when to produce and how
D. how to produce and sell
Correct Answer: Option B
14. In an open economy, the GNP is measured as_____________?
A. C + 1 + G(X-M)
B. C + 1 + G
C. C + 1 + G + X
D. C + 1 + G + M
Correct Answer: Option A
15. In a developing economy, productivity is measured by the____________
A. output - labour ratio
B. capital - output ratio
C. output growth rate
D. Output per capital
Correct Answer: Option C
16. The need to construct a scale of preference is necessitated by____________
A. scarcity and the need for choice
B. The needs to satisfy wants
C. Non - availability of factors of production
D. Scarcity of resources
Correct Answer: Option A
17. The privatization exercise in Nigeria is a move towards a____________
A. command economy
B. mixed economy
C. subsistence economy
D. market economy
Correct Answer: Option D
18. The mean is the best measure of central tendency because it__________
A. can be calculated from incomplete data
B. is a balancing point in an observation
C. is a midpoint value in an array of data
D. is not affected by extreme values in a data
Correct Answer: Option B
19
No of Men
0
1
2
3
4
5
6
7
8
Total Product(unit)
200
440
540
600
640
660
660
640
A. N110
B. N120
C. N220
D. N330
Correct Answer: Option B
20
The current stage of the economy is depicted in curve I. The movement of curve I to II suggests___________
A. an Improvement in capital goods technology but not In consumer goods technology
B. a movement from unemployment to full employment
C. that the output for the society has declined
D. a gain in consumer goods technique and not in capital goods technique
Correct Answer: Option B
21.When elasticity is zero, the demand curve is_____________
A. circular
B. downward sloping
C. perfectly inelastic
D. concave
Correct Answer: Option C
22. Which of the following is not a direct tax?
A. capital gains tax
B. purchase tax
C. personal income tax
D. capital tax
Correct Answer: Option B
23. A limited liability company is owned by________________
A. a bank
B. an individual
C. two or more partners
D. share holders
Correct Answer: Option D
24. If the price of a ball point pen falls from N1.00 to No.60 and the quantity demanded increases. from 200 to 300, the point elasticity of demand is equal to____________
A. 0.50
B. 0.40
C. 1.25
D. 0.80
Correct Answer: Option A
25. If the price elasticity of demand for a good is 0.43 an increase in the price of the good will result in____________
A. a decrease in profit by 43%
B. an increase in profit by 43%
C. a net loss
D. a net gain
Correct Answer: Option A
26. The money paid per hour for work done is_________
A. cost
B. salary
C. bonus
D. wage rate
Correct Answer: Option D
27
From the graph above the consumer will attain equilibrium at point_______________
A. J
B. K
C. M
D. L
Correct Answer: Option B
28. By utility we mean____________
A. beneficial
B. power of satisfying a want
C. advantageous
D. consumable
Correct Answer: Option B
29. Concentrating industries in one place is advantageous because there are gains in terms of_____________
A. cost economies
B. economies of scale
C. internal economies
D. external economies
Correct Answer: Option B
30. The effects on the demand for product A caused by a change in the price of product B is Called____________
A. Joint demand
B. cross-elasticity of demand
C. elasticity of supply
D. competitive demand
Correct Answer: Option A
31. An upward movement along the same supply curve result in_____________
A. a decrease in price
B. an increase
C. an increase in quantity supplied
D. a decrease In quantity supplied
Correct Answer: Option C
32. The coefficient of the price elasticity of supply is always_____________
A. Constant
B. Zero
C. Positive
D. Negative
Correct Answer: Option C
33. In the history of economics the concept of division of labour is usually associated With______________-
A. Karl Marx
B. Adam Smith
C. David Ricardo
D. J.M Keynes
Correct Answer: Option B
34. Given that Y = C + 1, where C = 50 + 0.75 and 1 = N45m, what is the equilibrium level of income?
A. N20m
B. N380m
C. N200m
D. N180m
Correct Answer: Option B
35
From the diagram shown, the optional point of production is_____________?
A. R
B. T
C. S
D. U
Correct Answer: Option C
36. An ad valorem tax is imposed on_____?
A. Exports
B. Imports
C. The Value of a Commodity
D. Special Commodities
Correct Answer: Option C
Explanation
An ad valorem tax (Latin for "according to value") is a tax whose amount is based on the value of a transaction or of property. It is typically imposed at the time of a transaction, as in the case of a sales tax or value-added tax (VAT).
37. The labour force of a country is determined by the___________
A. geographical distribution of the population
B. age structure of the population
C. number of people available for work
D. sex distribution of the population
Correct Answer: Option B
38. The transfer of public share holding in corporations to private enterprise is___________?
A. Incorporation
B. Concession
C. Privatization
D. Commercialization
Correct Answer: Option C
39. An economy in which both the public and private sectors contribute to economic growth is a__________?
A. socialist economy
B. feudal economy
C. mixed economy
D. capitalist economy
Correct Answer: Option C
40.A capital market differs from the money market in that in the former ________?
A. The percentage of interest charged is more
B. Loan sought is long term
C. Loan repayment is guaranteed
D. Loan sought is short-term
Correct Answer: Option B
Explanation
Basically the difference between the capital markets and money markets is that capital markets are for long term investments, companies are selling stocks and bonds in order to borrow money from their investors to improve their company or to purchase assets. Whereas money markets are more of a short term borrowing.
41. The reduction in the value of a country’s currency in relation to the value of the currencies of other nation is known as____________
A. Deflation
B. Inflation
C. Devaluation
D. Revaluation
Correct Answer: Option C
42
X
8
10
12
16
18
20
24
F
2
1
4
3
3
1
6
From the table, Calculate the median___________
A. 24.0
B. 17.0
C. 18
D. 16
Correct Answer: Option D
Explanation
When a group data is involved, cumulative frequency is used. The formula will be:
Median=[(N+1)/2]th
For member of odd number items. That is, where N is odd
Median=([N/2[N/2+1]th)/2
For member of odd number items. That is, where N is odd
Solution:
X
8
10
12
16
18
20
24
F
2
1
4
3
3
1
6
Cumulative Frequency
2
3
7
10
13
14
20
When a group data is involved, cumulative frequency is used. The formula will be:
Median=[(N+1)/2]th
For member of odd number items. That is, where N is odd
Median=([N/2[N/2+1]th)/2
For member of odd number items. That is, where N is odd
Solution:
43. The expression of cost in terms of alternative forgone is referred to as ____?
A. Scarce resources
B. Decision making
C. Opportunity cost
D. Choice
Correct Answer: Option C
Explanation
Opportunity cost is defined as the expression of cost in terms of alternative forgone. It is the satisfaction of one’s want at the expense of another want.
44. The full meaning of NAPEP is?
A. National Poverty Eradication Programme
B. National Agency for Poverty and Education Program
C. National Air Pollution and Environmental Purification
D. None of the above
Correct Answer: Option A
Explanation
National Poverty Eradication Programme (NAPEP) is a 2001 program by the government aimed at poverty reduction, in particular, reduction of absolute poverty. NAPEP goals include training youths in vocational trades, to support internship, to support micro-credit, create employment in the automobile industry and help VVF (Vesico-vaginal fistula) patients.
45. Taxes and government expenditures are instruments of____________
A. Monetary policy
B. Tax policy
C. Economic policy
D. Fiscal policy
Correct Answer: Option D
Explanation
Fiscal policy may be defined as the use of income and expenditure instruments or policies to control or regulate the economic activities in a country. It is a plain action by government pertaining to the raising of revenue through taxation and other means and the pattern of expenditure to be applied.
46. As a factor of production, the reward for land is?
A. Profit
B. Interest
C. Rent
D. Wage
Correct Answer: Option C
Explanation
As factors of production, the reward for land is rent, capital is interest, labour is wages and salaries and entrepreneur is profit.
Rent is the reward for Land as a factor of production
47
The diagram below represents a production function. At which of the points does diminishing returns set in__________
A. R
B. S
C. T
D. V
Correct Answer: Option C
Explanation
Production function refers to the functional relationship between the quantity of a good produced (output) and the factors of production (inputs). The production function relates the maximum amount of output that can be obtained from a given number of inputs.
Law of diminishing returns states that as more units of a variable input are added to fixed amounts of land and capital, the charge in total output will first rise and then fall.
48. The two major types of international trade are Bilateral trade and?
A. Internal trade
B. Multilateral trade
C. Dilateral trade
D. Trilateral trade
49
A country's budget allocation to various sectors of the economy is shown in the pie chart .
If the budget of the country was $7,200.00, how much is allocated to education?
A. $2,400.00
B. $2,000.00
C. $1,200.00
D. $1,000.00
Correct Answer: Option B
Explanation
Multilateral trade is a type of international trade in which a country trades with many other countries. This ensures international division of labour. It is the type of trade in which many countries exchange their goods and services
50. In a capitalist economy, factors of production are owned and controlled by the _____?
A. Citizen
B. Business Men
C. Government
D. Foreigners
Correct Answer: Option B
Explanation
Capitalism or free market economy may be defined as the type of economic system in which the means of production are owned and controlled by private individuals that is; it is characterized by private ownership of the means of production. In this case, the private individuals play a greater role than the government in taking decisions on what to produce, how to produce, for whom to produce and the distribution of what has been produced.
51. Efficiency of labour in a country is determined by the following except the____________
A. Social attitude to work
B. Education and training
C. Total population
D. Working conditions of workers
Correct Answer: Option C
Explanation
Efficiency of labour may be defined as the ability of labour to increase output without increasing the quantity of labour. Increase in efficiency is usually expressed in terms of increase in output of labour within a shorter period of time without any fall in the quality of goods and services produced. Factors which affect efficiency of labour include Education and training, attitude to work, working conditions of workers. However, total population is not a factor that affects efficiency of workers.
52. The study of Economics becomes necessary because of the______________
A. Large population size of the world
B. Scarcity of resources
C. Opportunity cost of goods and services
D. Need to satisfy every desire of man
Correct Answer: Option B
Explanation
We study economics for different reasons such as allocation of natural resources, rational decision making, and solution to economic problems all of which point that desires are numerous while resources are scarce. Economics seeks to study the relationship between ends and means. Ends are unlimited while the means are limited. Economics therefore seek is concerned with allocating limited resources among the competing and unlimited wants
53. The formula (index of export prices)/(index of import prices) x 100 is used to measure the____________
A. Volume of trade between countries
B. direction of international trade
C. commodity terms of trade
D. volume of imports
Correct Answer: Option C
Explanation
Term of trade refer to the rate at which a country’s exports exchange for its import. It is expressed as a relation between the prices a country receives for its export and the prices it pay for import. Term of trade is usually measured by this mathematical formula:
54
X
8
10
12
16
18
20
24
F
2
1
4
3
3
1
6
From the table, Calculate the mean?
A. 24.0
B. 17.0
C. 18
D. 27.2
Correct Answer: Option B
Explanation
Mean= ∑fx/∑f
=(16+10+48+48+54+20+144)/(2+1+4+3+3+1+6)
=340/20
=17.0
By calculation, the mean of the distribution is not 18
55. The number of people who are qualified to work and who offer themselves for employment is called____________?
A. Migrant labour
B. Working population
C. Labor turnover
D. Mobility of Labour
Correct Answer: Option B
Explanation
Working population also known as labour force refers to the total number of persons available to supply the labour for the production of economic goods and services. In other words, it is the total number of people of working age in a country who are able and willing by law to work.
56
A country's budget allocation to various sectors of the economy is shown in the pie chart .
What is the ratio of expenditure of health to Agriculture?
A. 2:3
B. 3:4
C. 4:3
D. 5:4
Correct Answer: Option B
Explanation
Total budget =$7,200
Expenditure on Health = x/$7200 × 3600 = 600
3600x = 600 × $7200
x = 600×$7200/3600
x = $1,200
Therefore, the budget allocated to Health is $1,200
Expenditure on Agriculture =x /$7200 × 3600 = 800
3600x = 800 × $7200
x = 800 × $7200/3600
x=$1,600
Therefore, the budget allocated to Agriculture is $1,600
Ratio of expenditure on Health to Agriculture;
Ratio=1200:1600
=3:4
57. Which of the following is an invisible item?
A. Petroleum services
B. Processed rice
C. Processed milk
D. Banking services
Correct Answer: Option D
Explanation
Invisible Export consists of services rendered to other countries. Such services include transport, banking, insurance and other consulting service.
58. The population density of a town made up of 50 square kilometer land area and 100 million people is________
A. 50,000 people per square kilometer
B. 2 million people per square kilometer
C. 0.5 million people per square kilometer
D. 20 million people per square kilometer
Correct Answer: Option B
Explanation
Total population = 100,000,000
Total land area = 50 sq km
Population density=(Total population) / (Land area)
=100,000000/50
=2,000,000
=2 million persons per sq km
By calculation, the population density is 2 million people per square meter
59. The establishment of industries in rural areas will help to reduce____________-
A. Urban-Rural migration
B. Rural-Urban migration
C. Rural-Rural migration
D. Urban-Urban migration
Correct Answer: Option B
Explanation
Rural-urban migration is the movement of people from rural areas such as villages to urban centers. The establishment of industries, projects and businesses that will absorb the rural working population and reverse labor movement will go a long way in reducing rural-urban drift.
60. The use of income and expenditure instruments or policies to control or regulate the economic activities of a country is known as?
A. Revenue generation
B. Economic development
C. Fiscal Policy
D. Taxation
Correct Answer: Option C
Explanation
Fiscal policy is the use of income and expenditure instruments or policies to control or regulate the economic activities of a country. It is a plain action by government pertaining to the raising of revenue through taxation and other means and the pattern of expenditure to be applied
61. A group formed to enable members adopt a common policy in labour negotiation is known as?
A. Employer’s association
B. Craft Union
C. Trade union
D. Employee’s union
Correct Answer: Option A
Explanation
Employer’s association is formed to enable members to adopt a common policy in labour negotiation. A good example of employers association is that of the Nigerian Employers’ Consultative Association (NECA).
62. One of the major forms of migration that tends to create problem in all developing countries is that of___________
A. Rural-urban migration
B. Rural-rural migration
C. Urban-rural migration
D. Seasonal migration
Correct Answer: Option A
Explanation
As a result of difference in economic opportunities, people tend to migrate to where there are more economic opportunities like jobs, business, industries and social amenities. Majority of these are situated in urban areas in developing countries, this in turn facilitate rural-urban migration which is a major problem for developing countries
63. When a union is composed of workers with the same skill , it is called____________
A. An industrial union
B. A workers union
C. A craft union
D. A technical union
Correct Answer: Option C
Explanation
Craft union is a labor union with membership limited to workers of the same craft. It is a union representing workers who share the same skill-set or who perform identical tasks, although they may work in different industries; for example, electricians and plumbers.
64
X
2
3
4
5
F
2
5
2
1
From the table, the mean of the distribution is___________
A. 2.2
B. 2.5
C. 3.2
D. 4.5
Correct Answer: Option C
Explanation
Mean= ∑fx/∑f
=(4+15+8+5)/(2+5+2+1)
=32/10
=3.2
65. The bank type responsible for the formulation of rules and regulations guiding the banking industry is known as?
A. Commercial bank
B. Central bank
C. Mortgage bank
D. Merchant bank
Correct Answer: Option B
Explanation
Central bank is the highest financial institution in a country which carries out the monetary policy of the government. The central bank controls, regulate and supervise the components of the banking system. It lays down rules and regulation to be followed by all banks to ensure smooth operation.
66
From table, how many people scores above 6?
A. 25
B. 24
C. 5
D. 30
Correct Answer: Option B
Explanation
number of people who scored above 6=5+4+9+6
=24
67. The following are types of capital except:___________
A. Current capital
B. Saving capital
C. Working capital
D. Social capital
Correct Answer: Option B
Explanation
The different types of capital include: Fixed capital, which are assets not used up in the course of production. Circulatory or Working capitals are assets which are used up in the process of production Eg. Raw materials, fuel etc Social capital is the assets provided by the government that aid production. Examples include electricity, water etc.
Saving capital is not a type of capital
68. Import duty and tariffs is an instrument used for international trade restriction and so is __________?
A. Preferential duties
B. Preferential treatment
C. Entreport
D. Trade license
Correct Answer: Option A
Explanation
In other to encourage or discourage the importation of certain goods from certain countries discriminate duties are charged on these goods.
69
Given the table, if the total budget of the country to be 100 million naira, what is the ratio of expenditure on manufacturing to agriculture?
A. 1:2
B. 3:2
C. 2:1
D. 2:3
Correct Answer: Option A
Explanation
Total budget = N100,000,000
Portion of pie chart covered in degree = 360
Expenditure on manufacturing = x/N100,000,000 × 3600 = 360
3600x = 360 × N100,000,000
x = 360×N100,000,000/3600
x=N10,000,000
Therefore, the budget allocated to Manufacturing is N10,000,000
Total budget = N100,000,000
Portion of pie chart covered in degree = 720
Expenditure on Agriculture = x/N100,000,000 × 3600 = 720
3600x = 720 × N100,000,000
x = 720 × N100,000,000/3600
x = N20,000,000
Therefore, the budget allocated to Agriculture is N20,000,000
Ratio of expenditure on Manufacturing to Agriculture;
Ratio = 10,000,000:20,000,000
=1:2
70. The policy by which government encourages producers of export goods to produce and export more in order to earn more foreign exchange is called__________
A. Sales promotion
B. Term of trade
C. Export promotion
D. International trade
Correct Answer: Option C
Explanation
Export promotion also called export drive is defined as any policy by which government encourages producers of export goods to produce and export more in order to earn more foreign exchange. Such measures include: reduction of export duties, subsidy for export based industries etc.
71.Human wants are insatiable because wants are____________
A. Limited while means are scarce
B. Unlimited and means are also unlimited
C. Limited and means are also limited
D. Unlimited while means are scarce.
Correct Answer: Option D
Explanation
Want may be defined as insatiable desire or need by human beings to own goods or services that give satisfaction. Human wants or needs are many, and are usually described as insatiable because the means of satisfying them are limited or scarce
72. Mortgage banks give loans to investors on a long term basics to_____________
A. Finance agriculture
B. establish banks
C. acquire machinery
D. build houses
Correct Answer: Option D
Explanation
Mortgage banks are financial institutions that specialize in granting loans to individuals and corporate bodies for building purposes
73. The form of capital that is required for the day-to-day running of production activities is called?
A. Fixed capital
B. Social Capital
C. Circulating capital
D. Liquid capital
Correct Answer: Option D
Explanation
Liquid or current capital is the type of capital that is required for the day-to-day running of production activities. They are also changed from one form to another examples are finished goods and money.
74. Which of the following business organization is allowed to raise capital by sales of shares to more than twenty people?
A. Partnership
B. Sole proprietorship
C. Public limited liability company
D. Private limited liability company
Correct Answer: Option C
Explanation
Public Limited Liability Company is defined as one which allows the public to subscribe for its shares. The number of shareholder range from seven to infinity i.e owners must be at least seven but there is no maximum number
75. Utility is the satisfaction derived from____________
A. Production
B. Distribution
C. Consumption
D. Demand
Correct Answer: Option A
Explanation
Utility is an economic term introduced by Daniel Bernoulli referring to the total satisfaction received from consuming a good or service.
76. The main concern of economists is to________-
A. Control the growth of population
B. Redistribute income between the rich and poor
C. Satisfy all human wants
D. Allocate scarce resources to satisfy human wants
Correct Answer: Option D
Explanation
Economics seeks to study the relationship between ends and means. Ends are unlimited while the means are limited. Scarcity means resources are limited in relation to the ends. Economics therefore seek is concerned with allocating limited resources among the competing and unlimited wants.
77. The formation of cartels or monopolies in other to obtain better bargaining or deals from other countries is characteristic of which of the following?
A. International monetary Fund
B. Countries with comparative advantage
C. Countries with superlative advantage
D. Countries producing same or identical goods
Correct Answer: Option D
Explanation
Members producing the same or identical goods can form cartels or monopolies in other to obtain better bargaining or deals from other countries outside the membership.
78
If the pass mark was 40, how many students passed the examination?
A. 100
B. 120
C. 160
D. 200
Correct Answer: Option C
79. The Economic Commission for Africa was set up by the_________
A. UNO
B. ECOWAS
C. OAU
D. IMF
Correct Answer: Option A
Explanation
The economic commission for Africa (ECA) also known as the United Nations Economic Commission for Africa was established in 1958 with its headquarters in Addis Ababa, Ethiopia. It is an organ of the United Nations Organization (UNO). Its major aim is to promote the social and economic development of Africa.
80.The reward for capital is___________
A. Interest
B. Rent
C. Risk
D. Premium
Correct Answer: Option A
Explanation
Capital is the man made wealth or goods used to produce other goods and services such as cash, machine, buildings, motor vehicles, raw materials etc. The reward on capital such as these is interest
81. The full meaning of NNPC is?
A. Nigerian National Population commission
B. Nigerian National Petroleum Corporation
C. National Number of Petroleum Companies
D. None of the above
Correct Answer: Option B
Explanation
The Nigerian National Petroleum Corporation (NNPC) is a body charged with the development and management of Nigeria’s Petroleum resources. It was established in 1977 and was assigned the responsibility of exploration, production and refining of petroleum, as well as distribution and foreign marketing of crude oil and petroleum products.
82. Occupational distribution of information is mainly influenced by___________
A. economic factor
B. religious factor
C. geographical factor
D. social factor
Correct Answer: Option A
Explanation
Occupational distribution of population refers to the classification of the working population into different types of work they engage in. The occupational distribution in any population is influenced by factors which includes: The level of education, Availability of natural resources, The level of technology, The type of production activities.
83. The Economic Community of West African States (ECOWAS) has been slow in achieving its objective because of______________
A. The activities of multinationals
B. inadequate personnel at the secretariat
C. political instability
D. inadequate international support
Correct Answer: Option C
Explanation
Frequent change of leadership of member state creates a difference in ideology and this is a major problem of ECOWAS
84. The economic term used to refer to human wants, desires or needs is known as?
A. Ends
B. Alternative means
C. Scarce
D. Means
Correct Answer: Option A
Explanation
Professor Lionel C. Robbins defined economics as the science which studies human behavior as a relation to ends and scarce means which have alternative uses. The “ends” in the definition refers to human wants, desire or needs. Human wants are numerous or many relative to available resources required to satisfy them.
85. Consider the following statements:
1. Climate and availability of water largely determines the pattern of the population distribution.
2. Density of population helps in getting a better understanding of the spatial distribution of population in relation to land
Which of the statement(s) given above is/are correct
A. Only 1
B. Only 2
C. Both 1 and 2
D. Neither 1 nor 2
Correct Answer: Option C
Explanation
Extreme climates such as very hot or cold deserts are uncomfortable for human habitation. Areas with a comfortable climate, where there is not much seasonal variation, attract more people. People prefer to live in areas where fresh water is easily available. River valleys are among the most densely populated areas of the world. Spatial distribution of population can be better understood with the help of density of population. Hence, the correct answer is option C
86. Calculate the population density of Nigeria, having a total population of 180 million with a total land area of 923,768 sq km?
A. 195 million people per sq km
B. 5132 people per sq km
C. 195 people per sq km
D. 1.7 million people per sq km
Correct Answer: Option C
Explanation
Total population = 180,000,000
Total land area = 923,768 sq km
Population density = (Total population) / (Land area)
=180,000,000/923,768
=194.85
=195 persons per sq km
87. Factors affecting size of Labour Force include the following EXCEPT?
A. Level of technology
B. Retirement age
C. Government policies
D. Trade Union activities
Correct Answer: Option A
Explanation
Factors that affect the size of Labour Force include the following: Size of population of a country, official school leaving age, retirement age, pursuit of higher education, age, structure of population, role of women in the society, number of working hours and working days, the number of disabled, the number of people willing to work, migration.
88. Which of the following is an advantage of localization of industry?
A. Development of subsidiary firms
B. creation of parallel market
C. development of slums
D. attraction of foreign capital
Correct Answer: Option A
Explanation
Localization of industries refers to the concentration of firms or industries producing similar product in one area. As major firms concentrate in one area, other subsidiary firms that assist the major firms in the production of goods usually emerge.
89. In other to enhance the utility of a particular commodity, it was moved from a place where it has little utility to another area where its utility is higher. This form of utility is referred to as?
A. Marginal utility
B. Form utility
C. Place utility
D. Total utility
Correct Answer: Option C
Explanation
Place utility involves the changing of location of a commodity from one geographical area where it has little utility to another area where its utility is higher. For example, cattle are mainly reared in the North where it has little utility but transported to the South where it has higher utility.
90
X
2
3
4
5
F
2
5
2
1
What is the median of the distribution?
A. 5
B. 4
C. 3
D. 2
Correct Answer: Option C
Explanation
When a group data is involved, cumulative frequency is used. The formula will be: Median=[(N+1)/2]th
For member of odd number items. That is, where N is odd
Median=([N/2]th + [N/2 + 1]th)/2
For member of odd number items. That is, where N is odd
Solution:
From the table, there are 20 members as indicated by the cumulative frequency. Since the members are odd (10) the median age will be ([N/2]th + [N/2 + 1]th)/2
Median=([10/2]th + [10/2 + 1]th)/2
=(5th + 6th)/2
The 5th member is 3 and the 6th member is on 3
Median=(3 + 3)/2
=6/2
Median = 3
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