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Economics 1993 JAMB Past Questions

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1
It is impossible to satisfy all human wants because?
  • A. areas of fertile land are very limited
  • B. oceans and seas limit land space for farming
  • C. resources are not equitably distributed
  • D. available resources are limited
View Answer & Discuss JAMB 1993
2
The main function of the price system is to?
  • A. distribute resources equally among competing ends
  • B. ensure efficient allocation of resources in the economic system
  • C. allocate goods and services equally
  • D. minimize cheating
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3
A system in which the means of production is held in trust for the people by government is known as a?
  • A. socialist economy
  • B. capitalist economy
  • C. subsistence economy
  • D. mixed economy
View Answer & Discuss (1) JAMB 1993
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4
The working population refers to?
  • A. a population where the average age is falling
  • B. the population within the '0 -14'age bracket
  • C. the economically active segment of the population
  • D. the dependent population
View Answer & Discuss JAMB 1993
5
Which of the following factors is NOT responsible for the rural/urban drift in Nigeria?
  • A. The infrastructural facilities in cities
  • B. Declining fertility of rural farmlands
  • C. Rural electrification programme
  • D. Higher living standards in urban areas
View Answer & Discuss JAMB 1993
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