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Wednesday, 08 April 2026
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Economics Past Questions and Answers

Jamb Economics Questions

Question 6:
If the price of a commodity falls and the quantity purchased does not rise, the commodity can be described as ____________
  • A Scarce
  • B Normal
  • C Superior.
  • D Inferior
View Answer & Explanation
Question 7:
An economic problem arises when ____________
  • A Sellers are few
  • B Scarcity and choices are involved
  • C Buyers are many
  • D Money is in short supply
View Answer & Explanation
Question 8:
Which of these is not a cause of high population growth in Nigeria?
  • A Improved hygiene
  • B Reduction in death rate
  • C Family planning unit of Nigeria
  • D Increased birth rate
View Answer & Explanation
Question 9:
Inflation can be curbed by ____________
  • A Deficit budget
  • B Paying higher wages
  • C Increased aggregate demand
  • D Reducing aggregate demand
View Answer & Explanation
Question 10:
A typical corporate form of business organization is owned by ____________
  • A Shareholders
  • B A local government
  • C The president of a country
  • D Foreigners and citizens of the country.
View Answer & Explanation