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Economics Past Questions and Answers

Jamb Economics Questions

Question 16:

Imperfect market is characterized by

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A Perfect mobility of factors of production
B Many buyers and few sellers
C A large number of buyers and sellers
D Non-preferential treatment

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Question 17:

The term 'Near money' is best described as

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A A financial instrument that is readily convertible to cash
B Government financial instrument that is convertible to cash
C Time deposits with low interest rates
D A financial asset that is convertible to cash

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Question 18:

The distinguishing characteristic between the money market and the capital market lies in whether the

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A Securities are primary or secondary
B Debt instruments provided are long-term or short-term
C Funds mobilized are private or public
D Securities are in debentures or ordinary shares

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Question 19:

For a firm, value added can be defined as the difference between the

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A Input prices and product prices
B Value of its output and inputs purchased from other firms
C Value of its output and the cost of production
D Total revenue and total cost

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Question 20:

Insurance companies, pension and provident funds and unit trusts are all examples of

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A Rural-based revenue mobilizers
B Non-governmental organisations
C Government financial agencies
D Non-bank financial institutions

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