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Economics Past Questions and Answers

Jamb Economics Questions

Question 46:
Human wants are insatiable because wants are____________
  • A Limited while means are scarce
  • B Unlimited and means are also unlimited
  • C Limited and means are also limited
  • D Unlimited while means are scarce.
View Answer & Explanation
Question 47:
Mortgage banks give loans to investors on a long term basics to_____________
  • A Finance agriculture
  • B Establish banks
  • C Acquire machinery
  • D Build houses
View Answer & Explanation
Question 48:
The form of capital that is required for the day-to-day running of production activities is called?
  • A Fixed capital
  • B Social Capital
  • C Circulating capital
  • D Liquid capital
View Answer & Explanation
Question 49:
Which of the following business organization is allowed to raise capital by sales of shares to more than twenty people?
  • A Partnership
  • B Sole proprietorship
  • C Public limited liability company
  • D Private limited liability company
View Answer & Explanation
Question 50:
Utility is the satisfaction derived from____________
  • A Production
  • B Distribution
  • C Consumption
  • D Demand
View Answer & Explanation