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Economics 2020 JAMB Past Questions

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36

Crude petroleum is a good example of a 

  • A. lasting asset
  • B. wasting asset
  • C. synthetic product
  • D. costless resources
View Answer & Discuss (5) JAMB 2020
37

A major effect of a long distribution chain is 

  • A. scarcity of commodities
  • B. high retail
  • C. low retails prices
  • D. low producer earnings
View Answer & Discuss (4) JAMB 2020
38

One of the major criticism of the 1962 -1968 National Development Plan was that?

  • A. it failed to incorporate lessons gained from earlier plans to enhance its efficiency
  • B. it came too quickly after the country's independence
  • C. planned expenditure was based too heavily on expected earnings from crude oil
  • D. its execution was based largely on foregn-sourced financial resources
View Answer & Discuss (3) JAMB 2020
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39

Utility is the satisfaction derived from?

  • A. production
  • B. distribution
  • C. consumption
  • D. demand
View Answer & Discuss JAMB 2020
40

Economic growth is different from economic development because economic growth

  • A. describes expansion and changes
  • B. is measurable but not objective
  • C. describes expansion and not change
  • D. is not measurable but objective
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