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Economics 2023 JAMB Past Questions

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26

Economic problem occurs when

  • A. There is scarcity relative to demand
  • B. All raw materials are imported
  • C. Many people are out of work
  • D. There are no buyers for our goods
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27

A ............ in the price of the domestic currency in terms of a foreign currency is referred to as .............

  • A. Decrease, appreciation
  • B. Increase, de-appreciation
  • C. Decrease, depreciation
  • D. Increase, consolidation
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28

Among all the determinants of economic growth, the most important one is

  • A. Human capital
  • B. Increased GDP
  • C. Land and Natural resources
  • D. Technologies
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29

An increase in money income with constant price results in

  • A. Outward shift in the budget line
  • B. Inward parallel shift in the budget line
  • C. Options A and C
  • D. Budget line remain constant
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30

The law of supply states that, other things being constant, as price increases

  • A. Supply increases
  • B. Supply decreases
  • C. Quantity supplied increases
  • D. Quantity supplied decreases
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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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Project Topics and Materials, Post-UTME past questions - Download now or upload yours to get paid