1990 - JAMB Economics Past Questions and Answers - page 5
41
A
the flow of goods and services
B
payments for goods and services
C
the flow of income
D
government transactions
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42
A
curve X
B
curveY
C
curve Z
D
curve X and Z
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43
A
CURVES Z AND Y
B
CURVE X
C
CURVE Z
D
CURVE Y
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44
A
TX
B
RT
C
ST
D
TY
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45
A
A
B
B
C
C
D
D
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46
The demand curve would shift to the left when there is a rise in
A
Constant proportions
B
Constant complement
C
Income
D
The supply of the commodity
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47
If one orange costs 20k and one kilogram of beef costs N10.00, the opportunity cost of one kilogram of beef is?
A
50 oranges
B
10 oranges
C
5 oranges
D
9.80
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48
In economic life, choice among alternatives depends on the?
A
income of the decision maker
B
scarcity of resources
C
scale of preference of the decision maker
D
status of the decision maker
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49
One of the major advantages of specialization is that?
A
the worker becomes a tenderer of machines
B
it causes more employment of labour
C
less machinery is required for production
D
the worker wastes less time between operations
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50
Which of following rewards is associated with entrepreneurship as a factor of production?
A
Salaries
B
Profit
C
Interests
D
Rents
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