Economics 2018 Past Questions | JAMB

Study the following Economics past questions and answers for JAMBWAEC  NECO and Post-JAMB. Get prepared with official past questions and answers for upcoming examinations.

1.  The privatization of public enterprises will lead to efficient management of resources in the economy. This statement can best be described as_____________

  • A. deductive reasoning
  • B. positive reasoning
  • C. normative reasoning
  • D. inductive reasoning

2.  The type of business finance that entitles the holder to a fixed rate of dividend is______________

  • A. bank load
  • B. debenture
  • C. preferred stock
  • D. semi-fixed

3.  In the long run, all production factors are____________

  • A. variable
  • B. fixed
  • C. semi-variable
  • D. semi-fixed

4.  Commercial bank reserves at the Central Bank____________

  • A. advancing trade, prospects
  • B. controlling credit and money supply
  • C. reducing bank frauds
  • D. discouraging banking operations

5.  If the standard deviation of a given data is 8.2, find its variance_______________

  • A. 82.0
  • B. 91.8
  • C. 67.2
  • D. 4.1

6.  The ultimate objectives of economics is to_________?

  • A. decide under what circumstances that government should intervene in the economy
  • B. Organize production at the lowest cost
  • C. Make the best use of scarce resources
  • D. make efforts to understands how the economy works

7.  The savings deposit in a commercial bank is called____________?

  • A. near money
  • B. call money
  • C. capital
  • D. fund

8.  A major determinant of the demand for a luxury good is____________?

  • A. the price of other goods
  • B. the price of the good
  • C. tastes and fashion
  • D. the income of consumers

9.  When a variable is associated with time period, it is_____________

  • A. circular
  • B. a flow
  • C. static
  • D. a stock

10. The factor of production that has the highest degree of mobility is__________?

  • A. entrepreneurship
  • B. land
  • C. labour
  • D. capital
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