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Friday, 10 April 2026
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Economics Past Questions and Answers

Jamb Economics Questions

Question 11:
The demand for two or more commodities to satisfy a particular want is _____?
  • A Derived
  • B Composite
  • C Competitive
  • D Joint
View Answer & Explanation
Question 12:
The supply curve above is
  • A Fairly inelastic
  • B Perfectly inelastic
  • C Unitary elastic
  • D Perfectly elastic
View Answer & Explanation
Question 13:
One of the factors affecting change in demand for a commodity is the _______?
  • A Supply of the commodity
  • B Availability of the substitutes
  • C Price of the commodity
  • D Technical know-how
View Answer & Explanation
Question 14:
Public ownership of productive factors is a feature of_______?
  • A Socialism
  • B Capitalism
  • C Feudalism
  • D Mixed economy
View Answer & Explanation
Question 15:
If the marginal propensity to save is 0.8, calculate the multiplier?
  • A 1.25
  • B 5.00
  • C 1.30
  • D 2.25
View Answer & Explanation