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Economics 2018 JAMB Past Questions

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16

The need to construct a scale of preference is necessitated by____________

  • A. scarcity and the need for choice
  • B. The needs to satisfy wants
  • C. Non - availability of factors of production
  • D. Scarcity of resources
View Answer & Discuss (2) JAMB 2018
17

The privatization exercise in Nigeria is a move towards a____________

  • A. command economy
  • B. mixed economy
  • C. subsistence economy
  • D. market economy
View Answer & Discuss (2) JAMB 2018
18

The mean is the best measure of central tendency because it__________

  • A. can be calculated from incomplete data
  • B. is a balancing point in an observation
  • C. is a midpoint value in an array of data
  • D. is not affected by extreme values in a data
View Answer & Discuss (5) JAMB 2018
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19
No of Men 1 2 3 4 5 6 7 8  
Total Product(unit) 200 440 540 600 640 660 660 640

If the price per unit  is N2, what is the average revenue when 6 men are employed?

  • A. N110
  • B. N120
  • C. N220
  • D. N330
View Answer & Discuss (5) JAMB 2018
20

The current stage of the economy is depicted in curve I. The movement of curve I to II suggests___________

  • A. an Improvement in capital goods technology but not In consumer goods technology
  • B. a movement from unemployment to full employment
  • C. that the output for the society has declined
  • D. a gain in consumer goods technique and not in capital goods technique
View Answer & Discuss (4) JAMB 2018
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