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.

11.  The minimum number of share holders for joint stock companies is_______________

  • A. 4
  • B. 2
  • C. 7
  • D. 3

12.  If a demand curve that intersects a perfectly inelastic supply curve shift is rightward, then____________

  • A. only the quantity will increase
  • B. The prices will remain constant
  • C. the equilibrium price and quantity will increase
  • D. only the price will increase

13.  The basic economic problems of society include___________

  • A. scarcity, for whom to produce and where
  • B. what to produce, how and for whom
  • B. scarcity, when to produce and how
  • D. how to produce and sell

14.  In an open economy, the GNP is measured as_____________?

  • A. C + 1 + G(X-M)
  • B. C + 1 + G
  • C. C + 1 + G + X
  • D. C + 1 + G + M

15.  In a developing economy, productivity is measured by the____________

  • A. output – labour ratio
  • B. capital – output ratio
  • C. output growth rate
  • D. Output per capital

16.  The need to construct a scale of preference is necessitated by____________

  • A. scarcity and the need for choice
  • B. The needs to satisfy wants
  • C. Non – availability of factors of production
  • D. Scarcity of resources

17.  The privatization exercise in Nigeria is a move towards a____________

  • A. command economy
  • B. mixed economy
  • C. subsistence economy
  • D. market economy

18.  The mean is the best measure of central tendency because it__________

  • A. can be calculated from incomplete data
  • B. is a balancing point in an observation
  • C. is a midpoint value in an array of data
  • D. is not affected by extreme values in a data


No of Men012345678
Total Product(unit)200440540600640660660640

If the price per unit  is N2, what is the average revenue when 6 men are employed?

  • A. N110
  • B. N120
  • C. N220
  • D. N330

20. ECONOMICS past question


The current stage of the economy is depicted in curve I. The movement of curve I to II suggests___________

  • A. an Improvement in capital goods technology but not In consumer goods technology
  • B. a movement from unemployment to full employment
  • C. that the output for the society has declined
  • D. a gain in consumer goods technique and not in capital goods technique

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