Search SchoolNGR

Economics Past Questions and Answers

Jamb Economics Questions

Question 21:

Use the table below to answer the question below;
The international production set for Nigeria and Austria is;

Products	Nigeria	Austria
Cocoa	20 tonnes	12 tonnes
Lace	1o metres	8 metres

From the table, it can be deduced that ____________

SchoolNGR Classroom

A Nigeria should produce cocoa and lace
B Nigeria can benefit from producing lace only
C Austria should produce lace and Nigeria should produce cocoa
D Austria should produce cocoa and lace

View Answer & Explanation

Question 22:

The PAYE ( Pay As You Earn) in Nigeria is an example of ____________

SchoolNGR Classroom

A Flat rate Tax
B Community tax
C Regressive tax
D Progressive tax

View Answer & Explanation

Question 23:

A good measure of the standard of living usually used for international comparison is ____________

SchoolNGR Classroom

A Per capita income (PCI)
B Gross national product (GND)
C Net national income (NNI)
D Gross domestic product (GDP)

View Answer & Explanation

Question 24:

What is the most important factor influencing the location of the iron and steel industry at Ajaokuta?

SchoolNGR Classroom

A Availability of labour in the area
B Availability of power
C Nearness of raw material
D Access to transport facilities

View Answer & Explanation

Question 25:

The Power Holding Company of Nigeria (PHCN) is a ____________

SchoolNGR Classroom

A Public limited company
B Private authority
C Public Corporation
D Public Liability company

View Answer & Explanation

Stay Updated

Follow us on:

Subjects