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Tuesday, 07 April 2026
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Economics Past Questions and Answers

Jamb Economics Questions

Question 1:
JAMB 2002
The elasticity of supply of perishable goods is?
SchoolNGR Classroom
  • A Unitary
  • B Inelastic
  • C Zero
  • D Elastic
View Answer & Explanation
Question 2:
JAMB 2002
The elasticity of supply of perishable goods is?
SchoolNGR Classroom
  • A Unitary
  • B Inelastic
  • C Zero
  • D Elastic
View Answer & Explanation
Question 3:
JAMB 2002
The demand for factors of production is an example of?
SchoolNGR Classroom
  • A Joint demand
  • B Competitive demand
  • C Derived demand
  • D Composite demand
View Answer & Explanation
Question 4:
JAMB 2002
A student has N30.00 with which to buy a ruler costing N18.00 and an exercise book costing N25.00. If he buys the exercise book, his opportunity cost is?
SchoolNGR Classroom
  • A The ruler
  • B The exercise book
  • C N25.00
  • D 18.00
View Answer & Explanation
Question 5:
JAMB 2002
A shift in supply curve indicates that a different quantity will be supplied at each possible price because?
SchoolNGR Classroom
  • A Consumers are willing to pay higher prices
  • B Supply is facing competition
  • C Other factors than price have changed
  • D Price has changed
View Answer & Explanation

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