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Economics 2021 JAMB Past Questions

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26

Money becomes a very poor store of value in a period of _______

  • A. Harvest
  • B. Deflation
  • C. Recession
  • D. Inflation
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27

In Nigeria, cheques are not money because________

  • A. Most Nigerians cannot identity them
  • B. They are not legal tender
  • C. There are no banks in rural areas
  • D. They are not generally acceptable as a medium of exchange
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28

Division of Labour is limited by the________

  • A. Size of labour firm
  • B. Availability of raw material
  • C. Size of the labour force
  • D. Absolute size of the country's population
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29

The value of money depends primarily on _________

  • A. The gold backing of the currency
  • B. The general price level
  • C. Government decree that it is legal tender
  • D. None of the above
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30

In a free market economy. the rationing of scarce goods is done principally by_______

  • A. Consumers
  • B. The government
  • C. The price mechanism
  • D. All of the above
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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