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Wednesday, 08 April 2026
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Economics Past Questions and Answers

Jamb Economics Questions

Question 46:
If the country is currently producing at point Y, it can increase production of producer goods by moving to the point
  • A V
  • B W
  • C X
  • D Z
View Answer & Explanation
Question 47:
In the table above, the price of commodity y is N2 and that of x is N1 while the individual has an income of N12. Determine the combination of the two commodities the individual should consume to maximize his utility
  • A 3y and 3x
  • B 6y and 4x
  • C 3y and 6x
  • D 5y and 5x
View Answer & Explanation
Question 48:
The best method of production in an under populated country is
  • A Labour-extensive
  • B Land-intensive
  • C Capital-intensive
  • D Labour-intensive
View Answer & Explanation
Question 49:
The commercial banks differ from non-bank financial institutions because they
  • A Accept deposits withdrawable by cheque
  • B Mobilize savings
  • C Invest surplus funds
  • D Contribute to economic development
View Answer & Explanation
Question 50:
If Nigeria's composite price index in 1999 was 140.03% in 2000, the rate of inflation in 2000 was
  • A 4.02%
  • B 2.10%
  • C 2.06%
  • D 1.03%
View Answer & Explanation