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Economics 2017 JAMB Past Questions

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21
A country's terms of trade can be improved by ____?
  • A. collective bargaining
  • B. imposing lower export duties
  • C. revelation of currency
  • D. reducing demand for imported goods
View Answer & Discuss (2) JAMB 2017
22
Changing the structure of a commodity in order to increase its utility is called?
  • A. Time utility
  • B. form utility
  • C. marginal utility
  • D. place utility
View Answer & Discuss JAMB 2017
23

Which of the following is not an indicator of economic growth?

  • A. CPI
  • B. PPI
  • C. GDP
  • D. High Level of Unemployment
View Answer & Discuss (4) JAMB 2017
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24
One of the unique features that distinguishes the perfect and imperfect market condition is _________
  • A. profit motive principles
  • B. absence of price control board
  • C. price determines production and distribution
  • D. number of sellers and buyers
View Answer & Discuss (2) JAMB 2017
25
In economics, the “how” or input question refers to:
  • A. The problem of allocating scarce resources among competing uses
  • B. The way in which factors of production may be combined to produce output
  • C. The way in which a firm decides on its profit maximising rate of output
  • D. The problem of how output is distributed among individuals and groups in society.
View Answer & Discuss JAMB 2017
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