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Economics Past Questions and Answers

Jamb Economics Questions

Question 11:

Cost - push inflation occurs when_______

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A Production cost is high
B Government embarks on deficits financing
C Factors decrease
D There is too much in circulation

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Question 12:

The basic principle of cooperative societies is to ________

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A Maintain the integrity of their members
B Protect the interest and pursue the welfare of members
C Ensure better working conditions for members
D Provide voluntary services to the members

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Question 13:

From the table above, the average product of the 3rd unit of labour is

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A 50
B 70
C 350
D 150

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Question 14:

Which of the following institutions does not operate in the money market?

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A Central bank
B Mortgage banks
C Money deposit banks
D Insurance companies

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Question 15:

Other products gotten from Petroleum include the following EXCEPT:

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A Rubber
B Fuel
C Paints
D Insecticides

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