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Economics Past Questions and Answers

Jamb Economics Questions

Question 41:

The International Bank for Reconstruction and Development(IBRD) performs the following functions except ____________

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A Granting long-term loans
B Assisting with technical expertise
C Reducing tariff among members
D Developing human resource

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Question 42:

An electrical engineer who is teaching physics in a secondary school is said to be

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A Under-employed
B Unemployed
C Fully employed
D Technologically unemployed

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Question 43:

One benefit a country can derive from the extraction of crude oil is increase in

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A Population
B Employment
C Money supply
D Demand for imports

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Question 44:

Which of the following cannot be classified as a natural resource?

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A Iron rod
B Wild life
C Solar energy
D Gold

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Question 45:

Marginal cost is?

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A The lowest cost of producing goods
B The cost of production of the most efficient firm in an industry
C The cost of production of the most inefficient firm in an industry
D The cost of production of the last or extra unit of goods produced by a firm

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