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Economics 1992 JAMB Past Questions

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1
Which of the following situations can give rise to economic problems?
  • A. Unlimited human wants
  • B. Wants of varying important
  • C. Limited means available for satisfying wants
  • D. Means used in different ways
View Answer & Discuss (3) JAMB 1992
2
Scale of preference refers to?
  • A. consumers preference for luxury goods
  • B. the household monthly income
  • C. list of goods and servicesin order of priority
  • D. budget perparation without paying due regard to priority
View Answer & Discuss (1) JAMB 1992
3
For an economy which last year produced only two commodities X and Y, the real cost of the quantity of X which it produced can be measured by the?
  • A. amount of X it could not produced
  • B. amount of Y it produced
  • C. total amount of Y it could have produced
  • D. extra amount of Y it could have produced
View Answer & Discuss JAMB 1992
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4
Which of the following is applicable in a wholly capitalist economy?
  • A. There is government intervention in price determination
  • B. Consumer sovereignty does not exist
  • C. The price mechanism allocates resources
  • D. Households cannot freely decide what to spend on goods and services
View Answer & Discuss JAMB 1992
5
the major objective of current campaign for family planning in Nigeria is to?
  • A. reduce the death rate
  • B. limit the number of women a man can marry
  • C. keep the population growth rate constant
  • D. raise the standard of living of the population
View Answer & Discuss (1) JAMB 1992
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