Search SchoolNGR

Economics Past Questions and Answers

Jamb Economics Questions

Question 6:

the major objective of current campaign for family planning in Nigeria is to?

SchoolNGR Classroom

A Reduce the death rate
B Limit the number of women a man can marry
C Keep the population growth rate constant
D Raise the standard of living of the population

View Answer & Explanation

Question 7:

The migration of young people from rural to urban areas in Nigeria should help to raise the?

SchoolNGR Classroom

A Standard of living in the urban areas
B Total productivity of labour in the rural areas
C Marginal productivity of labour in the rural areas
D Marginal productivity of labour in the urban areas

View Answer & Explanation

Question 8:

BY definition, variable cost (VC) is related to total costs (TC) and fixed costs (FC) by the equation?

SchoolNGR Classroom

A VC =TC + FC
B VC = TC - FC
C VC = TC/FC
D VC = (TC)(FC)

View Answer & Explanation

Question 9:

The higher the price of capital relative to the price of labour, the more production techniques should be?

SchoolNGR Classroom

A Labour-intensive
B Capital-intensive
C Fixed
D Technology-intensive

View Answer & Explanation

Question 10:

The U-shape of the long run average cost curve can be explained by the?

SchoolNGR Classroom

A Law of increasing returns
B Law of constant returns
C Law of diminishing returns
D Concepts of economies and diseconomies of scale

View Answer & Explanation

Stay Updated

Follow us on:

Subjects