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.

31.  An upward movement along the same supply curve result in_____________

  • A. a decrease in price
  • B. an increase
  • C. an increase in quantity supplied
  • D. a decrease In quantity supplied

32.  The coefficient of the price elasticity of supply is always_____________

  • A. Constant
  • B. Zero
  • C. Positive
  • D. Negative

33.  In the history of economics the concept of division of labour is usually associated With______________-

  • A. Karl Marx
  • B. Adam Smith
  • C. David Ricardo
  • D. J.M Keynes

34.  Given that Y = C + 1, where C = 50 + 0.75 and 1 = N45m, what is the equilibrium level of income?

  • A. N20m
  • B. N380m
  • C. N200m
  • D. N180m



From the diagram shown, the optional point of production is_____________?

  • A. R
  • B. T
  • C. S
  • D. U

36.  An ad valorem tax is imposed on_____?

  • A. Exports
  • B. Imports
  • C. The Value of a Commodity
  • D. Special Commodities

37.   The labour force of a country is determined by the___________

  • A. geographical distribution of the population
  • B. age structure of the population
  • C. number of people available for work
  • D. sex distribution of the population

38.  The transfer of public share holding in corporations to private enterprise is___________?

  • A. Incorporation
  • B. Concession
  • C. Privatization
  • D. Commercialization

39.  An economy in which both the public and private sectors contribute to economic growth is a__________?

  • A. socialist economy
  • B. feudal economy
  • C. mixed economy
  • D. capitalist economy

40.  A  capital market differs from the money market in that in the former ________?

  • A. The percentage of interest charged is more
  • B. Loan sought is long term
  • C. Loan repayment is guaranteed
  • D. Loan sought is short-term

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