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Economics Past Questions

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Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts
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966
For a supply curve, an increase in the price of a commodity will result in?
  • A. a decrease in supply
  • B. a decrease in the quantity supplied
  • C. an increase in supply
  • D. an increase in the quantity supplied
View Answer & Discuss JAMB 2001
967
A normal good with close substitutes is likely to have its price elasticity of demand?
  • A. between zero and one
  • B. equal to unity
  • C. less than unity
  • D. greater than unity
View Answer & Discuss (1) JAMB 2001
968
Economics is regarded as a social science because it?
  • A. adopts the scientific method in production
  • B. is an agent of socialization
  • C. adopts the scientific method in the study of human behaviour
  • D. adopts the scientific method with social problems
View Answer & Discuss JAMB 2001
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Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts
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969
A change in supply is best described as a?
  • A. movement along the supply curve
  • B. shift of the supply curve to the left or to the right
  • C. shift of the supply curve to the left
  • D. shift of the supply curve to the left
View Answer & Discuss JAMB 2001
970

When a generalization is made based on observed facts, it is known as?

  • A. deductive reasoning
  • B. inductive reasoning
  • C. theoretical reasoning
  • D. normative reasoning
View Answer & Discuss (4) JAMB 2001
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Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts