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CBT JAMB Economics 2017

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CBT JAMB Economics 2017

1 / 50

Category: Economics

1 A firm owned and managed by a family is an
example of ______?

2 / 50

Category: Economics

2 Which modal of the factor is inelastic?

3 / 50

Category: Economics

3 Which of the following budgets will increase
government expenditure?

4 / 50

Category: Economics

4 The economic questions about what and how to
produce in an economy is solely answered by the
_______?

5 / 50

Category: Economics

5 The following are Methods of measuring National
Income of a country EXCEPT?

6 / 50

Category: Uncategorized

6 Petro-chemical industries are located in the Rivers
State of Nigeria because of ________?

7 / 50

Category: Economics

7 The bowed shape of the Production possibilities
curve illustrates _________

8 / 50

Category: Economics

8 Which of the following is an indicator of
economic growth?

9 / 50

Category: Economics

9. The graph above represents _______

10 / 50

Category: Economics

10 The law of diminishing marginal utility states:

11 / 50

Category: Economics

11 Which of the following is not a function of the
money market?

12 / 50

Category: Economics

12 The population theory that is concerned with the
cases of over population and shortage of food
production is ______

13 / 50

Category: Economics

13 The basic aim of Economic Community of West
African States is the

14 / 50

Category: Economics

14 The production within domestic territory of a
country is called the _____

15 / 50

Category: Economics

15 Excess supply over demand will place a price
advantage on _____

16 / 50

Category: Economics

16 Given that ∑fx = 340 and N = 20, find the
arithmetic mean.

17 / 50

Category: Economics

17 One of the reasons why Nigeria is a mono-
economy is because of her _______

18 / 50

Category: Economics

18 Given that the total production of Bandako
farmers with one worker is 10kg. When the workers
increased to 2, 3, and 4, the total production increases
to 20, 36 and 60kg respectively.
Calculate the average product (AP) of the 4th unit of
labour.

19 / 50

Category: Economics

19 Which of the following is NOT an instrument in
the money market?

20 / 50

Category: Economics

20 Given that Qd = 10 – 2p while Qs = 5 x 3P, if P =
N 1 determine the equilibrium quantity

21 / 50

Category: Economics

21 A country’s terms of trade can be improved by
____?

22 / 50

Category: Economics

22 Changing the structure of a commodity in order to
increase its utility is called?

23 / 50

Category: Economics

23 Which of the following is not an indicator of
economic growth?

24 / 50

Category: Economics

24 One of the unique features that distinguishes the
perfect and imperfect market condition is _________

25 / 50

Category: Economics

25 In economics, the “how” or input question refers
to:

26 / 50

Category: Economics

26 The modal value of 3, 8, 4, 6, 3, 5, 2, 7, 3 and 5 is

27 / 50

Category: Economics

27 One of the major causes of farmers’ unstable
income in Nigeria is _________

28 / 50

Category: Economics

28 Which of the following source of income is
spectacular only to Government ?

29 / 50

Category: Economics

29 When the government fix the price of essential
commodities, this is referred to as:

30 / 50

Category: Economics

30 One of the functions of the price system is that it

31 / 50

Category: Economics

31 Which of the following is NOT illustrated by the
production possibility curve

32 / 50

Category: Economics

32 Which of the following statement is TRUE about
ECOWAS?

33 / 50

Category: Economics

33 The equilibrium price clears the market; it is the
price at which___________

34 / 50

Category: Economics

34. The graph above shows;

35 / 50

Category: Economics

35 Goods sold in perfectly competitive markets are
generally

36 / 50

Category: Economics

36 Cost – push inflation occurs when_______

37 / 50

Category: Economics

37 The basic principle of cooperative societies is to

38 / 50

Category: Economics

38. From the table above, the average product of the 3rd
unit of labour is

39 / 50

Category: Economics

39 Which of the following institutions does not
operate in the money market?

40 / 50

Category: Economics

40 Other products gotten from Petroleum include the
following EXCEPT:

41 / 50

Category: Economics

41. This formula is used to calculate__________

42 / 50

Category: Economics

42 Completely competitive market exist when each
member is a______

43 / 50

Category: Economics

43 Given a consumption function C = 10 + 0.6Y,
determine the value of C if Y is 20

44 / 50

Category: Economics

44 A partnership sourcing for funds to expand its
business would approach _______

45 / 50

Category: Economics

45 Opportunity cost helps the government to:

46 / 50

Category: Economics

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

47 / 50

Category: Economics

47 Which of these is a type of partnership in
business?

48 / 50

Category: Economics

48 Which of the following is an indirect tax?

49 / 50

Category: Economics

49 Localization of industry is encouraged because of
________

50 / 50

Category: Economics

50 Which of the following is correct?

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John Aina has a Masters degree as an engineer and has over 3 years of teaching and research experience. John is happiest when he is on a bike and is also interested in Solar technology.
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