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Economics Past Questions and Answers

Jamb Economics Questions

Question 21:

The most important requirement for increasing agriculture output in Nigeria is?

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A For the government to go into large scale farming
B To employ relevant foreign technology and reform the land tenure system
C To increase farmers'incomes and improve the farming techniques
D To employ more extension workers

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Question 22:

What is the effect of inelastic demand for agricultural products on the income of a farmer?

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A A price rise results in its fall
B A price fall results in its fall
C A price fall results in its rise
D A price rise leaves the income unchanged

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Question 23:

Plywood industries are often located near the source of?

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A Finance
B Labour
C Power supply
D Raw materials

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Question 24:

A firm is said to have benefited from external economies in production if it has realized?

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A A more efficient management of resources
B A better combination of factors of production
C Reduced resources costs due to operation of other firms
D A higher profit level due to increased sales

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Question 25:

One of the dangers of the localization of industries is?

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A Residual employment
B Mass unemployment
C Structural unemployment
D Cyclical unemployment

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