Search SchoolNGR

Economics Past Questions and Answers

Jamb Economics Questions

Question 16:

Which of the following is NOT a character of perfect competition?

SchoolNGR Classroom

A Supply and demand are equal
B Products are identical
C There is perfect knowledge
D There is no advertising

View Answer & Explanation

Question 17:

Inflation is likely to benefit ____________

SchoolNGR Classroom

A Debtors
B Persons with back savings
C Creditors
D Persons who lived on fixed pension funds

View Answer & Explanation

Question 18:

When a nation's exports are greater than its imports, ____________

SchoolNGR Classroom

A The net foreign trade is zero
B A favourable balance of trade exists
C A favourable balance of payment exists
D An unfavourable balance of trade exists

View Answer & Explanation

Question 19:

Surplus in balance of payments leads to ____________

SchoolNGR Classroom

A Government budget surplus
B Increase in foreign reserves
C Decrease in foreign reserves
D None of the above

View Answer & Explanation

Question 20:

Economics may be defined as ____________

SchoolNGR Classroom

A The study of human behaviour in the allocation of scarce resources
B The study of money and banking
C The study of markets and prices
D The study of production and distribution

View Answer & Explanation

Stay Updated

Follow us on:

Subjects