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Economics Past Questions and Answers

Jamb Economics Questions

Question 46:
A firm owned and managed by a family is an example of ______?
  • A Joint stock exchange
  • B Cooperative society
  • C Sole proprietorship
  • D Partnership
View Answer & Explanation
Question 47:
Which modal of the factor is inelastic?
  • A Wages
  • B Capital
  • C Labour
  • D Land
View Answer & Explanation
Question 48:
Which of the following budgets will increase government expenditure?
  • A Zero base budget
  • B Surplus budget
  • C Deficit budget
  • D Balanced policy
View Answer & Explanation
Question 49:
The economic questions about what and how to produce in an economy is solely answered by the _______?
  • A Government
  • B Labour union
  • C Private and public enterpriser
  • D System of economy practised
View Answer & Explanation
Question 50:
The following are Methods of measuring National Income of a country EXCEPT; ?
  • A Expenditure method
  • B Consumption method
  • C Input Method
  • D Output method
View Answer & Explanation