CBT JAMB Economics 2016

1 Development plans fail in Nigeria mainly because
of

2 One of the major uses of national income statistics
in Nigeria is to

3 The major characteristics of an undeveloped
nation is

4 Which is of the following is NOT among the
financial institutions in Nigeria?

5 Given 0.25, 1.25, 1.80, 1.110, 10.20, 10.15 and 1.55.
Determine the range?

6 One of the problems facing the Nigerian oil and
gas industry is____________________?

7 The demand curve faced by a monopolist
is_____?

8 The interest charged on loans is determined by the
__________?

9 A country that is over-populated will face the
problem of

10 If additional unit of a variable factor input causes
a fall in the marginal product, this implies that

11. From the graph above P 2 in price control situation is
referred

12 The additional cost incurred by producing an
additional unit of output is known as

13 One of the factors that determine the supply of
agricultural produce in Nigeria is

14. From the graph above, fixing maximum price of garri
below equilibrium prices at P1 will

15 In the theory of the consumer behavior, a
consumer is said to maximize utility when

16 If Mr Wale took a loan for the purpose of
investment, the demand for money
is________________?

17 The overall demand for crude oil for various uses
is an example of __________?

18 One of the factors limiting the effectiveness of
division of labour in the production process is the

19 One of the important features of perfect
competition is_____?

20 What effect would a change in price of a
commodity have on its supply?

21 All pairs of quantities from which a consumer
derives equal satisfaction can be plotted
on__________?

22 Which of the following is a major determinant of
price elasticity of demand?

23 If Nigeria has comparative advantage over Ghana
in producing cocoa, this means_________?

24 One of the ways of improving the marketing of
agricultural produce is by

25 The study of economics is necessary mainly
because of

26 If price of yams decreases from N15.00 per tuber
to N13.50 and the quantity supplied decreases by
20%. What is the elasticity of supply?

27 Which of the following is NOT a source of
government revenue?

28 Public limited liability companies are owned
by__________?

29 The type of inflation that emanates from excess
demand overs supply is___________?

30 The price elasticity of supply of perishable goods
is_________?

31 In Nigeria, most agricultural policies are aimed
at______?

32 One major problem encountered by ECOWAS
is_______?

33 One of the characteristics of private enterprises is
______?

34 The concept of marginal utility indicates the
relationship between utility and _________?

35 In Nigeria, unemployment can be minimized
through______?

36 The demand for two or more commodities to
satisfy a particular want is _____?

37. The supply curve above is

38 One of the factors affecting change in demand for
a commodity is the _______?

39 Public ownership of productive factors is a feature
of_______?

40 If the marginal propensity to save is 0.8, calculate
the multiplier?

41 Which of the following is a set of measures of
dispersion?

42 The slow pace of industrial growth in Nigeria can
be attributed to__________?

43 Consumers allocate their resources based on the
______?

44 A country’s terms of trade can be improved
by________?

45 A government budget proposing to spend more
than its expected revenue in a year will
create_______?

46 Population growth is determined by_______?

47 Which of the following can cause oil glut in the
International market?

48. From the table above, the elasticity of supply
is_____?

49 Localization of industry is encouraged because of

50 A company’s expenditure on raw materials is
termed as_______?