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Thursday, 09 April 2026
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Economics Past Questions and Answers

Jamb Economics Questions

Question 6:
a formula used to calculate for ____________
  • A Variance
  • B The quartile
  • C Standard deviation
  • D Mean deviation
View Answer & Explanation
Question 7:
Completely competitive market exist when each member is a
  • A Price maker
  • B Price taker
  • C Price seeker
  • D A and b
View Answer & Explanation
Question 8:
Given a consumption function C = 10 + 0.6Y, determine the value of C if Y is 20
  • A 36.60
  • B 22.00
  • C 30.60
  • D 26.00
View Answer & Explanation
Question 9:
A partnership sourcing for funds to expand its business would approach _______
  • A A central bank
  • B A money market
  • C An insurance
  • D A stock exchange
View Answer & Explanation
Question 10:
Opportunity cost helps the government to:
  • A Distribute money to citizens
  • B Support better production
  • C Remove competition
  • D Prepare budget
View Answer & Explanation