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Wednesday, 08 April 2026
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Economics Past Questions and Answers

Jamb Economics Questions

Question 21:
Fiduciary issue is that part of?
  • A The issue of notes backed entirely by gold
  • B A country's currency that is not negotiable
  • C The issue of notes not backed by gold
  • D A country's currency officially issued
View Answer & Explanation
Question 22:
The type of business finances that entitles the holder to a fixed rate of dividend is?
  • A Preference stock
  • B Common stock
  • C Debentures
  • D Bank loan
View Answer & Explanation
Question 23:
A company's expenditure on raw materials is regarded as?
  • A Explicit cost
  • B Implicit cost
  • C Prime cost
  • D Average cost
View Answer & Explanation
Question 24:
Firms are often set up close to each other in order to take advantage of?
  • A Supply of skilled labour
  • B Agglomeration economies
  • C Internal economies of scale
  • D External economies of scale
View Answer & Explanation
Question 25:
A situation in which a commodity is sold abroad below its cost of production in the home country is known as?
  • A Dumping
  • B Counter trade
  • C Bilateral trade
  • D Trade liberalization
View Answer & Explanation