2018 - JAMB Economics Past Questions and Answers - page 2
11
The minimum number of share holders for joint stock companies is_______________
A
4
B
2
C
7
D
3
correct option: c
Users' Answers & Comments12
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 option: c
Users' Answers & Comments13
The basic economic problems of society include___________
A
scarcity, for whom to produce and where
B
what to produce, how and for whom
C
B.
scarcity, when to produce and how
D
how to produce and sell
correct option: b
Users' Answers & Comments14
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 option: a
Users' Answers & Comments15
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 option: c
Users' Answers & Comments16
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 option: a
Users' Answers & Comments17
The privatization exercise in Nigeria is a move towards a____________
A
command economy
B
mixed economy
C
subsistence economy
D
market economy
correct option: d
Users' Answers & Comments18
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 option: b
Users' Answers & Comments19
| 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 option: b
Users' Answers & Comments20
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 option: b
Users' Answers & Comments