Business organizations: JAMB Economics Past Questions and Answers

What the JAMB syllabus covers in Business organizations

Our summary: Private and public enterprises, how they are funded and run, what decides their size, and privatization.

• Private enterprises (e.g. sole-proprietorship, partnership, limited liability companies and cooperative societies)
• Problems of private enterprises
• Public enterprises and their problems
• Funding and management of business organizations
• Factors determining the size of firms
• Privatization and commercialization as solutions to the problems of public enterprises

Objectives

• compare the types and basic features of private business organization;
• appreciate the financing and management problems of business organizations;
• identify the features of public enterprises;
• identify the factors determining the size of firms;
• differentiate between privatization and commercialization;
• compare the advantages and disadvantages of privatization and commercialization.

Syllabus content © The Joint Admissions and Matriculation Board (UTME).