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Economics 2020 JAMB Past Questions

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11

If aggregate income is N500.00 and aggregate consumption is N400.00, this means that the average propensity to consume is?

  • A. 0.20
  • B. 0.80
  • C. 1.25
  • D. 2.00
View Answer & Discuss JAMB 2020
12

The group of unemployed members of a community who are physically handicapped or disable, is generally classified under unemployment as?

  • A. frictional
  • B. cyclical
  • C. residual
  • D. hidden
View Answer & Discuss (6) JAMB 2020
13

Collectivism refers to the management of state enterprises in a?

  • A. mixed economy
  • B. co-operative organizations
  • C. capitalist economic system
  • D. socialist economy
View Answer & Discuss (1) JAMB 2020
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14

Efficiency in production means?

  • A. reducing the size of the work force
  • B. producing a given output with the lowest cost of combination of factors of production
  • C. adoption of capital intensive technology
  • D. increasing the quantity of the fixed factors of production
View Answer & Discuss JAMB 2020
15

In economic life, the choice among alternatives depends on the?

  • A. income of the decision maker
  • B. scarcity of resources
  • C. the scale of preference of the decision-maker
  • D. status of the decison maker
View Answer & Discuss JAMB 2020
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