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Economics Past Questions and Answers

Jamb Economics Questions

Question 6:

Which of the following is a set of measures of dispersion?

SchoolNGR Classroom

A Mean and median
B Mean and standard deviation
C Range and variance
D Mode and mean

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Question 7:

The slow pace of industrial growth in Nigeria can be attributed to__________?

SchoolNGR Classroom

A Lack of raw materials
B Lack of market for produce
C Inadequate skilled labour
D Over-dependence on the oil sector

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Question 8:

Consumers allocate their resources based on the ______?

SchoolNGR Classroom

A Law of diminishing marginal utility
B Value in use and value in exchange principle
C Law of returns to scale
D Diamond and water paradox

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Question 9:

A country's terms of trade can be improved by________?

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A Revaluation of currency
B Collective bargaining
C Reducing demand for imported goods
D Imposing lower export duties

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Question 10:

A government budget proposing to spend more than its expected revenue in a year will create_______?

SchoolNGR Classroom

A Opportunity for combating inflation
B Depression in the economy
C Shortage in money supply
D Opportunity for full employment

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