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Economics 1984 JAMB Past Questions

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1
The main economic objective behind the production of goods and services in any economy is to?
  • A. maximize profits
  • B. satisfy human wants
  • C. become self reliant
  • D. create job opportunities
  • E. make people wealthy
View Answer & Discuss JAMB 1984
2
Demand for a commodity by a consumer is the quantity of that commodity that the consumer
  • A. demands at a given price at a point in time
  • B. demand at a given price
  • C. actually digests
  • D. produces, given its price
  • E. can store away during bnad weather
View Answer & Discuss (1) JAMB 1984
3
Division of labour is limited by?
  • A. the size of market
  • B. the productivity of capital
  • C. cost of production
  • D. the factors of production
  • E. government policy
View Answer & Discuss JAMB 1984
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4
The production within the domestic territory of a country is called the
  • A. net national product
  • B. gross domestic product
  • C. net income
  • D. disposable income
  • E. gross national product
View Answer & Discuss JAMB 1984
5

In discussing the reasons why wages differ between occupations, which of the following should be regarded as a cardinal point that needs to be emphasized?

  • A. Length and cost of training
  • B. Demand and supply
  • C. attractiveness of the job
  • D. Influence of the trade union
  • E. Government intervention
View Answer & Discuss (4) JAMB 1984
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Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts