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Economics 2021 JAMB Past Questions

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31

If the price of a commodity falls and the quantity purchased does not rise, the commodity can be described as________

  • A. Scarce
  • B. Normal
  • C. Superior.
  • D. Inferior
View Answer & Discuss (3) JAMB 2021
32

An economic problem arises when________

  • A. Sellers are few
  • B. Scarcity and choices are involved
  • C. Buyers are many
  • D. Money is in short supply
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33

Which of these is not a cause of high population growth in Nigeria?

  • A. Improved hygiene
  • B. Reduction in death rate
  • C. Family planning unit of Nigeria
  • D. Increased birth rate
View Answer & Discuss (4) JAMB 2021
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34

Inflation can be curbed by _______

  • A. Deficit budget
  • B. Paying higher wages
  • C. Increased aggregate demand
  • D. Reducing aggregate demand
View Answer & Discuss (1) JAMB 2021
35

A typical corporate form of business organization is owned by ______

  • A. Shareholders
  • B. A local government
  • C. The president of a country
  • D. Foreigners and citizens of the country.
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