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Economics 2016 JAMB Past Questions

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16

If Mr Wale took a loan for the purpose of investment, the demand for money is________________?

  • A. Precautionary motive
  • B. Transactionary and Precautionary motive
  • C. Speculative motive
  • D. Speculative and Transactionary motives
View Answer & Discuss JAMB 2016
17

The overall demand for crude oil for various uses is an example of __________?

  • A. derived demand
  • B. competitive demand
  • C. composite demand
  • D. complementary demand
View Answer & Discuss JAMB 2016
18

One of the factors limiting the effectiveness of division of labour in the production process is the

  • A. Prevailing wage rate
  • B. Level of technology
  • C. Unemployment rate
  • D. Population size
View Answer & Discuss JAMB 2016
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19

One of the important features of perfect competition is_____?

  • A. Adequate knowledge of existing prices
  • B. The influence on prices by individual economic units
  • C. The restriction in terms of movement of goods and services
  • D. The administration of a centralized price system
View Answer & Discuss JAMB 2016
20

What effect would a change in price of a commodity have on its supply?

  • A. An increase in supply
  • B. No change in supply
  • C. A decrease in supply
  • D. A change in the quantity supplied
View Answer & Discuss (2) JAMB 2016
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