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Economics 2019 JAMB Past Questions

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6

The demand curve facing the monopolist in the foreign market is__________

  • A. Elastic
  • B. Inelastic
  • C. Perfectly elastic
  • D. Unitary
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7

Supply is________

  • A. A stock
  • B. A Flow
  • C. Constant
  • D. A table
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8

A rise in the supply of a commodity cause__________

  • A. an increase in the equilibrium price and decrease in the equilibrium quantity bought and sold
  • B. an increase in both equilibrium
  • C. a decrease in the equilibrium price and an increase in the equilibrium quantity bought and sold
  • D. a decrease in both equilibrium
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9

The method obtained by adding all the reward of factors of production in national income is________

  • A. income approach
  • B. expenditure approach
  • C. value added method
  • D. output approach
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10

An economy in which the whole income is not consumed is referred to as______

  • A. Frugal economy
  • B. Spend thrift economy
  • C. Capitalist economy
  • D. Mixed economy
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