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Economics 2018 JAMB Past Questions

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6

The ultimate objectives of economics is to_________?

  • A. decide under what circumstances that government should intervene in the economy
  • B. Organize production at the lowest cost
  • C. Make the best use of scarce resources
  • D. make efforts to understands how the economy works
View Answer & Discuss (1) JAMB 2018
7

The savings deposit in a commercial bank is called____________?

  • A. near money
  • B. call money
  • C. capital
  • D. fund
View Answer & Discuss (6) JAMB 2018
8

A major determinant of the demand for a luxury good is____________?

  • A. the price of other goods
  • B. the price of the good
  • C. tastes and fashion
  • D. the income of consumers
View Answer & Discuss (9) JAMB 2018
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9

When a variable is associated with time period, it is_____________

  • A. circular
  • B. a flow
  • C. static
  • D. a stock
View Answer & Discuss (6) JAMB 2018
10

The factor of production that has the highest degree of mobility is__________?

  • A. entrepreneurship
  • B. land
  • C. labour
  • D. capital
View Answer & Discuss (1) JAMB 2018
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