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Economics 2006 JAMB Past Questions

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Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts
16
A straight line indifference curve indicates that the two products are
  • A. normal goods
  • B. inferior goods
  • C. perfect substitutes
  • D. close substitutes
View Answer & Discuss JAMB 2006
17
Given that demand and price remain unchanged an outward shift of the supply curve will lead to
  • A. hoarding
  • B. excess supply
  • C. excess demand
  • D. a blank market
View Answer & Discuss JAMB 2006
18
A distribution is said to be positively skewed if it
  • A. has a long tail to the left
  • B. has a long tail to the right
  • C. is bimodal
  • D. is bell-shaped
View Answer & Discuss (1) JAMB 2006
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19

A decision on input combination solves the economic problem of

  • A. how to produce
  • B. for whom to produce
  • C. when to produce
  • D. what to produce
View Answer & Discuss (4) JAMB 2006
20
Choice involves opportunity cost because
  • A. goods give different utilities
  • B. available resources are inadequate
  • C. there are many goods to select from
  • D. not all goods have the same price
View Answer & Discuss (2) JAMB 2006
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