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Economics Past Questions and Answers

Jamb Economics Questions

Question 1:

Which of the following is correct?

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A Traditional budgeting focuses on goals and objectives
B Zero based budgeting produces a single level of appropriation for an activity
C Traditional budgeting starts with last funding appropriation
D Zero based budgeting does not systematically consider alternatives to current operations

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Question 2:

Localization of industry is encouraged because of ________

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A Low interest charges on loans
B Improvements in infrastructure
C Low foreign exchange rate
D High standard of living

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Question 3:

Which of the following is an indirect tax?

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A Poll tax
B Personal income tax
C Company tax
D Excise duties

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Question 4:

Which of these is a type of partnership in business?

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A Limited partnership
B Limited liability company
C Private partnership
D Joint stock partnership

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Question 5:

Which of the following is NOT a source of government revenue?

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A Grants, aids and borrowing
B Taxes, fees, licenses and fines
C Interest, dividends, profits and earnings
D Personal income, disposable income and transfer earnings

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