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Economics Past Questions and Answers

Economics Questions

Question 3926:
JAMB 2021
Which of the following is NOT a character of perfect competition?
SchoolNGR Classroom
  • A Supply and demand are equal
  • B Products are identical
  • C There is perfect knowledge
  • D There is no advertising
View Answer & Explanation
Question 3927:
JAMB 2021
Inflation is likely to benefit ____________
SchoolNGR Classroom
  • A Debtors
  • B Persons with back savings
  • C Creditors
  • D Persons who lived on fixed pension funds
View Answer & Explanation
Question 3928:
JAMB 2021
When a nation's exports are greater than its imports, ____________
SchoolNGR Classroom
  • A The net foreign trade is zero
  • B A favourable balance of trade exists
  • C A favourable balance of payment exists
  • D An unfavourable balance of trade exists
View Answer & Explanation
Question 3929:
JAMB 2021
Surplus in balance of payments leads to ____________
SchoolNGR Classroom
  • A Government budget surplus
  • B Increase in foreign reserves
  • C Decrease in foreign reserves
  • D None of the above
View Answer & Explanation
Question 3930:
JAMB 2021
Economics may be defined as ____________
SchoolNGR Classroom
  • A The study of human behaviour in the allocation of scarce resources
  • B The study of money and banking
  • C The study of markets and prices
  • D The study of production and distribution
View Answer & Explanation

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