An upward movement along the same supply curve result in_____________

an increase in quantity supplied

a decrease In quantity supplied

Commercial bank reserves at the Central Bank____________

controlling credit and money supply

discouraging banking operations

A capital market differs from the money market in that in the former _____?

The percentage of interest charged is more

The population density of a town made up of 50 square kilometer land area and 100 million people is________

2 million people per square kilometer 

50,000 people per square kilometer

2 million people per square kilometer 

0.5 million people per square kilometer

20 million people per square kilometer

The formula (index of export prices)/(index of import prices) x 100 is used to measure the____________

Volume of trade between countries

direction of international trade

The study of Economics becomes necessary because of the______________

Large population size of the world

Opportunity cost of goods and services

Need to satisfy every desire of man

JAMB UTME - Economics - 2018 | Green Bridge CBT

Pregunta 1 Informe

The formation of cartels or monopolies in other to obtain better bargaining or deals from other countries is characteristic of which of the following?

International monetary Fund

Countries with comparative advantage

Countries with superlative advantage

Countries producing same or identical goods

Detalles de la respuesta

The formation of cartels or monopolies in order to obtain better bargaining or deals from other countries is characteristic of countries producing the same or identical goods. When multiple countries produce the same or very similar goods, they may face competition from each other in the global marketplace. This competition can lead to lower prices and lower profits for all the countries involved. To avoid this, these countries may form a cartel or monopoly by agreeing to work together to limit production or fix prices. By doing so, they can increase their bargaining power and negotiate better deals with other countries or buyers. For example, the Organization of the Petroleum Exporting Countries (OPEC) is a cartel made up of oil-producing countries that work together to regulate the supply and price of oil in the global market. By working together, they can maintain higher prices for their oil and negotiate better deals with buyers. Overall, the formation of cartels or monopolies can be a way for countries producing similar goods to gain more control over the market and secure better economic outcomes for themselves.






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