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Economics Past Questions

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4441

A baker bought flour and other ingredients for S250.00, spent S52.00 on distribution, sold the bread for S320.00. The value added by the baker.

  • A. $302.00
  • B. $52.00
  • C. $18.00
  • D. $622.00
View Answer & Discuss JAMB 2022
4442

In a country with large population of full-time house wives, national income

  • A. will be composed of goods produced by women
  • B. figures will be grossly over-stated
  • C. statistics will be difficult to calculate
  • D. figures will be grossly under-estimated
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4443

Demand-pull inflation is likely to be caused by

  • A. an increase in the cost of factor inputs
  • B. increase in the income tax rate
  • C. increase in bank lending rate
  • D. increasingly large budget deficit
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4444

Holding money to take care of contingencies is

  • A. a speculative motive
  • B. a transactions motive
  • C. a precautionary motive
  • D. an expansionary motive
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4445

If a housewife has meat and wants tomatoes, she must find someone who has tomatoes to give and wants meat. This concept is described as

  • A. scale of preference
  • B. opportunity cost
  • C. complementary demand
  • D. double coincidence of wants
View Answer & Discuss JAMB 2022
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Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts