Search SchoolNGR

Economics Past Questions and Answers

Jamb Economics Questions

Question 11:

Marginal cost curve intersects average cost curve ?

SchoolNGR Classroom

A From above at its lowest point
B From below before the lowest point
C From below at its lowest point
D From below after the lowest point
E At zero point

View Answer & Explanation

Question 12:

Palm oil industry is located in Bendel State because the State?

SchoolNGR Classroom

A Imports raw material for palm oil Industry
B Is a palm tree growing area
C Soil is unsuitable for other crops
D Government does engage land for other crops
E Land is suitable for oil

View Answer & Explanation

Question 13:

The meaning of ‘wage-price spiral’ is?

SchoolNGR Classroom

A Demand pull and cost push inflation pulling each other in different director
B Demand pull and cost push inflation intensifying each other
C Both of them bringing about a reduction in the price level
D That demand pull and cost push inflation increases employment
E That wages and prices are rising at a proportional rate

View Answer & Explanation

Question 14:

In an inflationary period which of the following statements is NOT true?

SchoolNGR Classroom

A Wages rise simultaneously with prices
B The purchasing power of money diminishes
C More money runs after a limited quantity of goods
D Money supply increases
E Aggregate real demand exceeds aggregate real supply

View Answer & Explanation

Question 15:

Retailers in an economy perform the function of

SchoolNGR Classroom

A Production
B Exchange
C Distribution
D Horading
E Investment

View Answer & Explanation

Stay Updated

Follow us on:

Subjects