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Friday, 02 October 2026
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Economics Past Questions and Answers

Topic: Upstream/downstream of the oil sector

Jamb Economics Questions - Upstream/downstream of the oil sector

Question 11:
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 ____________
  • 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 12:
One benefit a country can derive from the extraction of crude oil is increase in
  • A Population
  • B Employment
  • C Money supply
  • D Demand for imports
View Answer & Explanation