JAMB Economics Repeated Questions and Answers 2019: If you have been studying for jamb, you must have come across some of these questions and answers in your jamb past questions ans answers. Now these are the possible questions that may be repeated in jamb exam. I therefore advise that you stay and study them well as you are waiting for jabm th fix the date for their exams. But before then, click here to see how to check jamb result.
Jamb Economics Questions And Answers
The below are some of the likely economics questions that may be repeated this year.
1. The residual of production which acquires to the ownership
of loans after all other expenses have been met is called _
Answer : Rent
2. The downturn in the price of shares on stock markets is a
highlight or _
Answer: The regulatory nature of the market
3. What is the effect of decrease in supply where demand is
Answer : Increase in price, decrease in quantity.
4. To control inflation, the monetary authority of a company
Answer : Engage in a restrictive monetary policy.
5. Natural growth rate can be calculated by?
Answer : Natural growth rate = Death rate + Net immigration
6. In the analysis of utility theory, the basic of demand is
_ Answer : Diminishing utility
7. In the money market, money can only be borrowed for _
Answer: Short term
8. The consumers co-operative society is owned by
Answer : Members of the society
9. Find the median of the following set of score, 8,9,6,5,10
Answer : Median is the middle number after all the numbers
are arranged in ascending or descending order. Arranging, we
have 5,6,8,9,10. Therefore, the media in 8
10. In a public company, entrepreneurship functions are
performed by the _
Answer : Board of directors
11. One major export crop in West Africa is __
Answer : Cocoa
12. …… expresses relationship between the dependent and
13. Macroeconomics was made popular by
Answer : John M. Kaynes
14. Distribution of goods and services is hindered by __
Answer : Too many middlemen (and other factors).
15. Census of population is usually conducted every _
Answer : 10 years
16. Which bank is known as post office bank? Answer :
17. A firm’s main aim is to
Answer : Maximise profits
18. In a socialist economy, factors of production are owned
and controlled by the
19. The market where buyer and sellers of currency meet is
Answer: Foreign exchange market
20. Taxes which are levied on a person’s expenditure are
Answer : Purchase tax
21. The additional revenue obtained by using one more unit of
a factor is called _
Answer: Marginal Revenue product
22. A firm’s compulsory cost is referred to as its
Answer: Fixed Cost
23. The assumption of economic analysis are …….. and …..
Answer: Rationally and other things being equal
24. A firm is at its optimum size when
Answer : It produces the greatest output at the minimum.
25. When a variable is associated with time period, it is?
Answer: A flow
26. The full meaning of OPEC is
Answer: Organization of Petroleum exporting countries.
27. State-owned enterprises are more common in Centrally
28. Commercial banks are example of joint stock banks
29. Efficiency of labour is enhanced by Improved working
condition and training
30. The production strategy used in over populated country is
31. Internal trade has general effect on ….. of a country.
32. West African economies can be described as?
33. The headquarters of the African Development Bank (ADB)
was originally located in Abidjan
34. ….. is the measurement of steepness of the line or curve
that emerges on the graph.
Answer : Slope
35. Banks create money by…
Answer : Lending out deposits to borrowers
36. The situation whereby government revenue is less than
government expenditure is referred to as
Answer : Budget deficit
37. ….. and …. of goods and factors of production brought the
existence of price
Answer : Scarcity and usefulness
38. The most common form of business in West Africa is the
Answer : Sole proprietorship
39. The terms of trade simply mean the price ratio of
Answer : export to import.
40. The tax imposed on goods produced within the country is
An EXCISE TAX