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Economics Past Questions

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4136

The group of unemployed members of a community who are physically handicapped or disable, is generally classified under unemployment as?

  • A. frictional
  • B. cyclical
  • C. residual
  • D. hidden
View Answer & Discuss (4) JAMB 2020
4137

Collectivism refers to the management of state enterprises in a?

  • A. mixed economy
  • B. co-operative organizations
  • C. capitalist economic system
  • D. socialist economy
View Answer & Discuss (1) JAMB 2020
4138

Efficiency in production means?

  • A. reducing the size of the work force
  • B. producing a given output with the lowest cost of combination of factors of production
  • C. adoption of capital intensive technology
  • D. increasing the quantity of the fixed factors of production
View Answer & Discuss JAMB 2020
Download WAEC May/June App - Get all past questions and answers, 100% offline - 43208
WAEC offline past questions - with all answers and explanations in one app - Download for free
Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts
4139

In economic life, the choice among alternatives depends on the?

  • A. income of the decision maker
  • B. scarcity of resources
  • C. the scale of preference of the decision-maker
  • D. status of the decison maker
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4140

The law of diminishing marginal utility indicates that if a consumer increases his consumption of a commodity continously

  • A. total utility must fall
  • B. marginal utility must fall
  • C. marginal utility may rise
  • D. marginal utility may fall even though his total utility may be rising
View Answer & Discuss JAMB 2020
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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
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