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Economics Past Questions and Answers

Jamb Economics Questions

Question 36:

Crude petroleum is a good example of a

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A Lasting asset
B Wasting asset
C Synthetic product
D Costless resources

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Question 37:

A major effect of a long distribution chain is

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A Scarcity of commodities
B High retail
C Low retails prices
D Low producer earnings

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Question 38:

One of the major criticism of the 1962 -1968 National Development Plan was that?

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A It failed to incorporate lessons gained from earlier plans to enhance its efficiency
B It came too quickly after the country's independence
C Planned expenditure was based too heavily on expected earnings from crude oil
D Its execution was based largely on foregn-sourced financial resources

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Question 39:

Utility is the satisfaction derived from?

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A Production
B Distribution
C Consumption
D Demand

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Question 40:

Economic growth is different from economic development because economic growth

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A Describes expansion and changes
B Is measurable but not objective
C Describes expansion and not change
D Is not measurable but objective

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