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Economics 2023 JAMB Past Questions

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11

If a business' total economic cost of producing 10,000 units of a product is N750,000 and this output is sold to consumers for N1,000,000, then the firm would earn

  • A. A normal profit of N750,000
  • B. An economic profit of N750,000
  • C. A normal profit o N1,750,000
  • D. An economic profit of N250,000
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12

One major problem facing West African countries is

  • A. Relations with Colonial Masters
  • B. Joint Military operations in Member States
  • C. Political integration
  • D. Financial crunch of Member States
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13

The development of an economic hypothesis through intuition, insight, or logic is associated with

  • A. Deduction
  • B. Policy economics
  • C. Normative economics
  • D. Induction
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Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts
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14

A major factor contributing to productivity is

  • A. Immigration of young workers
  • B. The labour force
  • C. The baby boom of generation
  • D. The rate of GDP per year
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15

.............is presently used in Nigeria to measure inflation

  • A. GNP implicit price deflator
  • B. Consumer price index
  • C. Wholesale price index
  • D. Real Gross Domestic Product
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Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts