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Economics 2016 JAMB Past Questions

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21

All pairs of quantities from which a consumer derives equal satisfaction can be plotted on__________?

  • A. An indifference curve
  • B. An exceptional demand curve
  • C. A budget line
  • D. An isoquant map
View Answer & Discuss (16) JAMB 2016
22

Which of the following is a major determinant of price elasticity of demand?

  • A. The price of the commodity
  • B. Availability of factors of production
  • C. The prices of factors of production
  • D. Income of the consumers
View Answer & Discuss (17) JAMB 2016
23

If Nigeria has comparative advantage over Ghana in producing cocoa, this means_________?

  • A. Nigeria produces cocoa more cheaply than Ghana
  • B. Nigeria and Ghana produce at the same level
  • C. Ghana produces cocoa more than Nigeria
  • D. Nigeria produces more cocoa than Ghana
View Answer & Discuss (9) JAMB 2016
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24

One of the ways of improving the marketing of agricultural produce is by

  • A. Reviewing the land tenure system
  • B. Ensuring even distribution of farm inputs
  • C. Embarking on irrigation farming
  • D. Establishing agricultural marketing boards
View Answer & Discuss JAMB 2016
25

The study of economics is necessary mainly because of

  • A. Unemployment
  • B. Unlimited resources
  • C. Scarcity of resources
  • D. Overpopulation
View Answer & Discuss JAMB 2016
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