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Economics Past Questions

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921
Favorable terms of trade is important to a country because it facilities?
  • A. economic prosperity for importers and exporters
  • B. export of hard currency by the government
  • C. economic prosperity for country
  • D. import of hard currency by the government
View Answer & Discuss JAMB 1999
922

The most acceptable economic measure for trade protection is to?

  • A. improve standards of living
  • B. protect infant industries
  • C. safegard strategic industries
  • D. promote foreign trade
View Answer & Discuss (1) JAMB 1999
923
Economic can be defined as?
  • A. reduction in spending in the face of competing alternative
  • B. allocation of resources to alternative uses
  • C. economic behaviour of small units like the household and the firm
  • D. the study of economic aggregates like inflation and national income
View Answer & Discuss (7) JAMB 2000
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924

(i) What and how much will be produced
(ii) How will it be produced
(iii) For whom will it be produced
(iv) How much will be exported and consumed?

From the above, identify the combination of basic resource allocation questions in economic analysis.

  • A. i, ii and iii
  • B. i, ii and iv
  • C. i, iii and iv
  • D. ii, iii and iv
View Answer & Discuss (19) JAMB 2000
925
In a capitalist economy, the economic problem of what goods to produce is decided mainly by?
  • A. shadow prices
  • B. profit level
  • C. relative prices
  • D. a central planner
View Answer & Discuss (2) JAMB 2000
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