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Economics 2017 JAMB Past Questions

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41
\(\frac{∑f(x-x̄)}{N}\)

Is a formula used to calculate for ____________
  • A. variance
  • B. the quartile
  • C. standard deviation
  • D. mean deviation
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42
Completely competitive market exist when each member is a —
  • A. price maker
  • B. price taker
  • C. price seeker
  • D. a and b
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43
Given a consumption function C = 10 + 0.6Y, determine the value of C if Y is 20
  • A. 36.60
  • B. 22.00
  • C. 30.60
  • D. 26.00
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44
A partnership sourcing for funds to expand its business would approach _______
  • A. a central bank
  • B. a money market
  • C. an insurance
  • D. a stock exchange
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45
Opportunity cost helps the government to:
  • A. Distribute money to citizens
  • B. support better production
  • C. remove competition
  • D. prepare budget
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