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Economics Past Questions and Answers

Jamb Economics Questions

Question 1:

Musa has a choice of buying a shirt, a book and a bag. What is the opportunity cost of buying a book?

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A A bag only
B A book and a bag
C A shirit and a bag
D A shirit only

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Question 2:

Musa has a choice of buying a shirt, a book and a bag. What is the opportunity cost of buying a book?

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A A bag only
B A book and a bag
C A shirit and a bag
D A shirit only

View Answer & Explanation

Question 3:

A typical feature of a market economy is that

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A All producers make profit
B Full employment exists
C Consumer sovereignty exists
D There is equality of economic agents

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Question 4:

A cumulative frequency graph is

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A A histogram
B An ogive
C A bar chart
D A pie chart

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Question 5:

The privatization exercise in Nigeria is a move towards a

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A Mixed economy
B Subsistence economy
C Market economy
D Command economy

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