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Tuesday, 28 April 2026
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Economics Past Questions and Answers

Economics Questions

Question 521:
JAMB 1980
Which of the taxes appear generally progressive in nature?
SchoolNGR Classroom
  • A Sales taxes
  • B The personal income tax
  • C Property taxes
  • D Corporation taxes
  • E None of the above
View Answer & Explanation
Question 522:
JAMB 1980
In a subsistence economy?
SchoolNGR Classroom
  • A There is no shortage of goods and services
  • B The state is the sole owner of resources
  • C Production is largely oriented towards consumption in the rular sector
  • D There is no exchange of goods and services
  • E Women predominate in all economic activities
View Answer & Explanation
Question 523:
JAMB 1980
In a normal (typical) demand schedule, the quantity demand is?
SchoolNGR Classroom
  • A Directly related to price
  • B Inversely related to price
  • C Independent of price
  • D Proportional related to supply
  • E Solely dependent on haggling skill
View Answer & Explanation
Question 524:
JAMB 1980
Division of labour is limited by the?
SchoolNGR Classroom
  • A Available of raw materials
  • B Size of the labour force
  • C Size of a labour firm
  • D Absolute size of the country's population
  • E Per capital income and number of potential buyers
View Answer & Explanation
Question 525:
JAMB 1980
In a limited liability company, the greatest risk is borne by?
SchoolNGR Classroom
  • A Debenture holders
  • B Company executives
  • C Ordinary shareholders
  • D Preference shareholders
  • E Borad of directors
View Answer & Explanation

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