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Economics Past Questions and Answers

Jamb Economics Questions

Question 21:
The shape of the production possibility frontier is determined by the_________
  • A Law of returns to scale
  • B Law of diminishing returns
  • C Factors of productions
  • D Technology
View Answer & Explanation
Question 22:
As indifference curve shows equal level of satisfaction at all points, An isoquant shows equal level of_________
  • A Input
  • B Commodities
  • C Output
  • D Factors
View Answer & Explanation
Question 23:
Which of the following is not a cause of unemployment_______
  • A Poor education
  • B Lack of skills
  • C Good government planning
  • D Corruption
View Answer & Explanation
Question 24:
The demand for labour is a________
  • A Derived demand
  • B Joint demand
  • C Complementary demand
  • D Composite demand
View Answer & Explanation
Question 25:
The use of government income and expenditure instrument to regulate the economy is termed______
  • A Monetary policy
  • B Physical policy
  • C Fiscal policy
  • D Public finance
View Answer & Explanation