Economics Past Questions and Answers

Question 31 :

• JAMB 2019

The sector which contribute highly to the economy is___________

A. Primary sector
B. Secondary sector
C. Tertiary sector
D. Education sector

Question 32 :

• JAMB 2018

Whatever form an economic system may take, choice is essential for members of the community because resources are__________

A. Scarce
B. Unlimited
C. Free
D. Many

Question 33 :

• JAMB 2018

Given two substitute goods (X and Y) with demand and supply function;
Qd = 7p - 12
Qs = 4p + 9
Find the magnitude of excess demand when p = ₦18

A. 303
B. 30
C. 114
D. 33

Question 34 :

• JAMB 2018

The basic and essential economic problems in a community are related to choice and________

A. Freedom
B. Scarcity
C. Social class
D. Politics

Question 35 :

• JAMB 2018

One of these is not a problem of agriculture___________

A. Provision of employment
B. Lack of preservation and storage facilities
C. Land tenure system
D. Poor transportation systems