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Economics Past Questions and Answers

Jamb Economics Questions

Question 21:
Positive check as envisaged by Thomas Malthus can be prevented if
  • A Death rate is reduced
  • B Moral restraint abolished
  • C More hospitals are built
  • D There is natural calamities
View Answer & Explanation
Question 22:
Which of the following factors is not a reason for farmers' unstable incomes?
  • A Dependence on too many crops
  • B Poor storage facilities
  • C Adverse weather conditions
  • D Recession in the world economy
View Answer & Explanation
Question 23:
Local firms can help in reducing unemployment in a country when
  • A Land acquisition becomes centralized
  • B Imports of substitutes are reduced
  • C Waste in the firm is eliminated
  • D Subsidies to firms are decreased
View Answer & Explanation
Question 24:
The largest component of national income in developing countries consist of
  • A Profit
  • B Profit and rent
  • C Rent
  • D Wages and salaries
View Answer & Explanation
Question 25:
A baker bought flour and other ingredients for S250.00, spent S52.00 on distribution, sold the bread for S320.00. The value added by the baker.
  • A $302.00
  • B $52.00
  • C $18.00
  • D $622.00
View Answer & Explanation