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Economics 1985 JAMB Past Questions

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1
One main quality of a good is that it
  • A. is sold in the market
  • B. satisfies wants
  • C. is made in the factory
  • D. is always tangible
  • E. is non-perishable
View Answer & Discuss (1) JAMB 1985
2
Bisi needs a book costing N10.00 and a hat costing N10.00. If Bisi buys the book instead of the hat, the opportunity cost of his choice is the?
  • A. cost of the bok
  • B. cost of the hat
  • C. book
  • D. hat
  • E. N10.00
View Answer & Discuss (12) JAMB 1985
3
An economic problem exists whenever
  • A. there is scacity and choice
  • B. there are no buyers for our goods
  • C. there are too many sellers
  • D. many people are out of work
  • E. all raw materials are imported
View Answer & Discuss (1) JAMB 1985
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4
The meaning of scale of preference is?
  • A. preparing a list of goods and services to be purchased in order of priority
  • B. showing the monthly income
  • C. budget preparation without due regard to proper proirities
  • D. consumers' preference for luxury goods
  • E. consumers preference for foreugn goods
View Answer & Discuss JAMB 1985
5
Optimum population is desirable because it enables an economy to obtain maximum?
  • A. per capita income
  • B. per capital output
  • C. per capita real income
  • D. per capital revenue
  • E. growth rate
View Answer & Discuss (4) JAMB 1985
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