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Economics 2002 JAMB Past Questions

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6
A scientific approach in economic analysis entails?
  • A. a deductive method only
  • B. both inductive and normative methods
  • C. a normative method only
  • D. both inductive and deductive methods
View Answer & Discuss (5) JAMB 2002
7

In a centrally planned economy, the economic problem of deciding what to produce is dependent on?

  • A. average profit
  • B. state command
  • C. average cost
  • D. relative prices
View Answer & Discuss (2) JAMB 2002
8
The solution to the problem of double coincidence of wants requires a buyer and seller whose demands are precisely?
  • A. competitve
  • B. composite
  • C. supplementary
  • D. complementary
View Answer & Discuss JAMB 2002
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9
The stock exchange is a market for the buying and selling of?
  • A. monetary instruments
  • B. new shares
  • C. existing shares
  • D. treasury bills
View Answer & Discuss JAMB 2002
10
National Income estimates can be used to?
  • A. differentiate between the rich and the poor in a country
  • B. prepare a country's annual budget
  • C. protect the level of a country's economic develompent
  • D. compare a country's growth rate with that of another over a period of time
View Answer & Discuss JAMB 2002
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