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Economics Past Questions and Answers

Jamb Economics Questions

Question 6:

Which is NOT a function of Central Bank in West Africa

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A Dealing in foreign exchange
B Issuing of currency
C Accepting deposit from private customers
D Acting as government bank
E Acting as bankers bank

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Question 7:

Which is NOT a cause of high population growth in Nigeria?

SchoolNGR Classroom

A Family planing Unit of Nigeria
B Improve medical facilities
C Reduction in death rate
D Improve hygiene
E Increased birth rate

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Question 8:

Commercial banks can create money in the following ways?

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A By using coins and paper money
B By borrowing money from banks abroad
C By receiving deposit from individuals
D By printing money on the instruction of the central bank
E None of the above

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Question 9:

Utility of a commodity means?

SchoolNGR Classroom

A Its usefulness
B Power to satisfy a want
C Price of the commodity
D Satisfaction derived from the product of commodity
E Its adaptability

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Question 10:

International trade arise because?

SchoolNGR Classroom

A One country has more abundant resource
B One country has the technology to produce the commodity whilst the other has not
C One country has the maximum comparative advantage or minimum comparative disadvantage in the production
D One country has manpower to produce the commodity than the country
E All of the above

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