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Economics 2018 JAMB Past Questions

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21

When elasticity is zero, the demand curve is_____________

  • A. circular
  • B. downward sloping
  • C. perfectly inelastic
  • D. concave
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22

Which of the following is not a direct tax?

  • A. capital gains tax
  • B. purchase tax
  • C. personal income tax
  • D. capital tax
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23

A limited liability company is owned by________________

  • A. a bank
  • B. an individual
  • C. two or more partners
  • D. share holders
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Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts
WAEC Past Questions, Objective & Theory, Study 100% offline, Download app now - 24709
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24

If the price of a ball point pen falls from N1.00 to N0.60 and the quantity demanded increases. from 200 to 300, the point elasticity of demand is equal to____________

  • A. 0.50
  • B. 0.40
  • C. 1.25
  • D. 0.80
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25

If the price elasticity of demand for a good is 0.43 an increase in the price of the good will result in____________

  • A. a decrease in profit by 43%
  • B. an increase in profit by 43%
  • C. a net loss
  • D. a net gain
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WAEC Past Questions, Objective & Theory, Study 100% offline, Download app now - 24709
Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts
WAEC offline past questions - with all answers and explanations in one app - Download for free
Download WAEC May/June App - Get all past questions and answers, 100% offline - 43208