Economics 2017 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. A firm owned and managed by a family is an example of ______?

  • A. joint stock exchange
  • B. cooperative society
  • C. sole proprietorship
  • D. partnership

2. Which modal of the factor is inelastic?

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

3.  Which of the following budgets will increase government expenditure?

  • A. zero base budget
  • B. surplus budget
  • C. deficit budget
  • D. balanced policy

4. The economic questions about what and how to produce in an economy is solely answered by the _______?

  • A. government
  • B. labour union
  • C. private and public enterpriser
  • D. system of economy practised

5. The following are Methods of measuring National Income of a country EXCEPT; ?

  • A. Expenditure method
  • B. Consumption method
  • C. Input Method
  • D. Output method

6. Petro-chemical industries are located in the Rivers State of Nigeria because of ________?

  • A. favourable soil
  • B. coal deposit
  • C. crude oil deposit
  • D. favourable climate

7. The bowed shape of the Production possibilities curve illustrates _________

  • A. that production is inefficient
  • B. that demand is relatively inelastic
  • C. that production is unattainable
  • D. the law of increasing marginal cost

8. Which of the following is an indicator of economic growth?

  • A. High tax rate
  • B. Technology development
  • C. High gross domestic product
  • D. High interest rate

9. economics 2017 past question

The graph above represents _______
  • A. a decrease in quantity supplied
  • B. an increase in supply
  • C. a decrease in supply
  • D. an increase in quantity supplied

10. The law of diminishing marginal utility states:

  • A. The supply curve slopes downward
  • B. Your utility grows at a slower and slower rate as you consume more and more unit of a good.
  • C. The elasticity of demand is infinite
  • D. None of the above
Subscribe
Notify of
guest
0 Comments
Inline Feedbacks
View all comments
0 0 votes
Article Rating
0
Would love your thoughts, please comment.x
()
x
Scroll to Top

join

naijavarcity

Subscribe to our mailing list and get latest school news