JAMB Economics 2013 past questions

Which question paper type of Economics is given to you?

The choice of how to produce in a command economy is determined by

In capitalist economies, questions about what to produce are ultimately answered by

The best measure of dispersion to determine the tallest tree in a forest is

What is the percentage contribution of services to the national income?

An increase in demand without a corresponding change in supply will lead to

An increase in the price of a commodity will result in

If the price of a bicycle changes from N120 to N80 and quantity bought changes from 300 to 500 units, the elasticity of demand for bicycle is

From the graph above, the price elasticity of demand is

One of the assumptions of the cardinalist approach is

Utility is the satisfaction derived from the

From the indifference curve above, consumer will prefer combination

One of the major factors that brings about changes in supply is

If P = 14 (Qs + 10). What is the quantity supplied at N14?

If the supply of a product is elastic, a small reduction in price will

The supply of beverages by firms in a monopolistic market is an example of

If the price of a commodity is fixed below equilibrium, this will lead to

One of the criticisms of the price mechanism is that

In Nigeria, government can reduce the cost of accommodation by fixing rent

If a refinery achieves a reduction in cost by purchasing and transporting crude oil in large quantities, it enjoys

An isoquant lying above to the right of another represents

[PAGE 20] From the graph above, R represents

The optimum level of output of the firm is

The total revenue of the firm is represented by

The speculative demand for money is inversely related to the

If Mr. K obtains a N50.000 loan from a bank for the purpose of providing household needs, the demand for money is said to be

Which of the following is used by the Central Bank of Nigeria to control inflation?

If CBN reduces money supply, the interest rate will

An example of an expansionary fiscal policy action is

One of the goals of development plans in Nigeria is to

Life insurance companies contribute to economic development by holding a part of their assets in

In order to add value to Nigeria agricultural produce, there is need to

The main reason for low agricultural produce in west Africa is need to

The most important determinant for the location of a brick industry is the availability of

In Nigeria, efficiency in public corporations can be achieved through

Government participation in the oil industry was necessitated by the

The deregulation of the petroleum sector in Nigeria will bring about

The quality of labour force in Nigeria can be improved by

The effect of emigration on a country's population is

One of the main achievements of the Economic Commission for Africa is

The rate of interest change on loans depends largely on

If Mr. X lost his clerical job at a store and searched for a similar job for ten months before finding one this implies that Mr. X was