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Tuesday, 28 April 2026
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Economics Past Questions and Answers

Economics Questions

Question 516:
JAMB 1980
In a free market economy, the rationing of scarce goods is done principally by
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  • A The government
  • B Business organizations
  • C The price mechanism
  • D Consumers
  • E Both A and B
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Question 517:
JAMB 1980
A disadvantage of the corporate form of business is the?
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  • A Risk of the owners of loss of personal effects if the business should fail
  • B Ability of the corporation to is financial resources
  • C Limited life span of the corporation
  • D Problems presented by separation ownership from control
  • E None of the above
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Question 518:
JAMB 1980
The value of money depends primarily on?
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  • A The gold backing of the currency
  • B The gold backing of both currency and deposit
  • C The general price level
  • D Government decree that it is legal tender
  • E None of the above
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Question 519:
JAMB 1980
A commercial bank is able to create money
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  • A By printing it
  • B By maintaining reserve
  • C By creating a demand deposit as it gives a new loan
  • D By issuing cheques to depositors
  • E By borrowing from the central bank
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Question 520:
JAMB 1980
Which of the following is NOT one of the balance of payment entries?
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  • A The current account
  • B Foreign exchange
  • C Import and Export duties
  • D Short-term capital
  • E Long-term capital
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