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Wednesday, 01 April 2026
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Economics Past Questions and Answers

Jamb Economics Questions

Question 31:
JAMB 1983
If any economy is growing at an annual rate of 7% and 4% of it is known to be due to the improvements in labour and capital combined, the balance of 3% is usually due to?
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  • A Land and related factors
  • B Abundance of natural resources
  • C Level of human capital
  • D Technical progress or other factors
  • E The discipline of political leadership
View Answer & Explanation
Question 32:
JAMB 1983
A major function of middlemen in Nigeria is the distribution of?
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  • A Commodities to all consumers regardless of income
  • B Commodities to consuming centres and the collection of money income to producing centres
  • C Economic welfare to all
  • D Wealth to all
  • E Poverty within the society
View Answer & Explanation
Question 33:
JAMB 1983
When a government owns enterprises, a number of advantage arise. Which of the following is NOT one of such advantages?
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  • A More capital is provided
  • B Price policy may be the interest of consumers
  • C Government workers may be indifferents towards the public
  • D Infrasturcture are rapidly developed
  • E Income may be more evenly distributed
View Answer & Explanation
Question 34:
JAMB 1983
Which of the following is NOT an advantage of localization of industries?
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  • A Reaping of external economies
  • B Development of a pool or skilled labour for industry
  • C Development of subsidiary industries
  • D Development of organized markets
  • E Growth of conurbations
View Answer & Explanation
Question 35:
JAMB 1983
The monetary system that requires double coincidence of want is known as?
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  • A The gold standard
  • B Barter
  • C The commodity system
  • D The gold exchange standard
  • E The cheque system
View Answer & Explanation

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