What will Jamb set in Economics for 2022 UTME and what are the top hot likely questions to come out in Jamb Economics? Continue reading for important Jamb Economics Questions and Answers for Jamb.
The Questions and answers will cover Every Chapter in Jamb Economics and Questions are Arranged Topic by Topic.
Jamb Economics Questions And Answers
1. The residual of production which acquires to the ownership of loans after all other expenses have been met is called ___
Answer: Rent
2. The downturn in the price of shares on stock markets is a highlight or ___
Answer: The regulatory nature of the market
3. What is the effect of decrease in supply where demand is constant?
Answer: Increase in price, decrease in quantity.
4. To control inflation, the monetary authority of a company can ___
Answer: Engage in a restrictive monetary policy.
5. Natural growth rate can be calculated by?
Answer: Natural growth rate = Death rate + Net immigration
6. In the analysis of utility theory, the basic of demand is ___ Answer: Diminishing utility
7. In the money market, money can only be borrowed for ___
Answer: Short term
8. The consumers co-operative society is owned by
Answer: Members of the society
9. Find the median of the following set of score, 8,9,6,5,10
Answer: Median is the middle number after all the numbers are arranged in ascending or descending order. Arranging, we have 5,6,8,9,10. Therefore, the media in 8
10. In a public company, entrepreneurship functions are performed by the ___
Answer: Board of directors
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11. One major export crop in West Africa is ____ Answer: Cocoa
12. …… expresses relationship between the dependent and independent variable.
Answer: Functions
13. Macroeconomics was made popular by
Answer: John M. Kaynes
14. Distribution of goods and services is hindered by ____
Answer: Too many middlemen (and other factors).
15. Census of population is usually conducted every ___
Answer: 10 years
16. Which bank is known as post office bank? Answer: Merchant Bank
17. A firm’s main aim is to
Answer: Maximise profits
18. In a socialist economy, factors of production are owned and controlled by the
Answer: Government.
19. The market where buyer and sellers of currency meet is known as
Answer: Foreign exchange market
20. Taxes which are levied on a person’s expenditure are known as
Answer: Purchase tax
21. The additional revenue obtained by using one more unit of a factor is called ___
Answer: Marginal Revenue product
22. A firm’s compulsory cost is referred to as its
Answer: Fixed Cost
23. The assumption of economic analysis are …….. and …..
Answer: Rationally and other things being equal
24. A firm is at its optimum size when
Answer: It produces the greatest output at the minimum.
25. When a variable is associated with time period, it is?
Answer: A flow
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26. The full meaning of OPEC is
Answer: Organization of Petroleum exporting countries.
27. State-owned enterprises are more common in Centrally planned economies
28. Commercial banks are example of joint stock banks
29. Efficiency of labour is enhanced by Improved working condition and training
30. The production strategy used in over populated country is Labour intensive.
31. Internal trade has general effect on ….. of a country.
Answer: GDP
32. West African economies can be described as?
Answer: Agricultural.
33. The headquarters of the African Development Bank (ADB) was originally located in Abidjan
34. ….. is the measurement of steepness of the line or curve that emerges on the graph.
Answer: Slope
35. Banks create money by…
Answer: Lending out deposits to borrowers
36. The situation whereby government revenue is less than government expenditure is referred to as
Answer: Budget deficit
37. ….. and …. of goods and factors of production brought the existence of price
Answer: Scarcity and usefulness
38. The most common form of business in West Africa is the
Answer: Sole proprietorship
39. The terms of trade simply mean the price ratio of
Answer: export to import.
40. The tax imposed on goods produced within the country is An EXCISE TAX
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Stephen says
I pray for higher score that the university won’t think twice to accept me
It'z Emmy Steve says
God I don’t need much I pray for the kind of score they will accept me in the institutions am about to experience and the course in jesus name amen
Henry uc says
Thanks bro
Bless says
400 in Jesus Name
miriam says
THANK YOU SIR, WITH THIS I CAN SCORE BETTER AN BY HIS GRACE I WILL MAKE IT
Ugo-Josh says
Thanks for the guideline, I think I can score over 300 now.
Jennifer says
thanks may God help us Amen
Endurance says
Thanks
Anonymous says
God help us thank you
sarah says
thanks for d guide
ajayi Deborah says
thank u so much and god bless you
Akwu Suleiman Odoma says
Have Seen Alot Of Brain From This , Thanks Alot,i Think With I Can Score 300 And Above
Omolara John Faith says
Thank you soo much sir
Anonymous says
Thanks for uploading dis questions I really appreciate
Hardesholar zaynab says
Thanks so much sir, surely 250 is mine
timi says
Wow, this is really amazing. thanks sir. At least I will not have economics phobia again😎ðŸ’ðŸ’
Blessing ofoatu says
God,pls,help me 😂 in dis year jamb,atleast,300,or,250,is,okay,by,me.
Amarachi says
Wow…nice guard line, thank you so much sir
Cornelius Matthew says
Tanks 4ur Genorosity Sr, May God Help Us All, Amen!!
Zainab says
Hw do i pass my exam dis year
Amina umar santali says
May almighty Allah help us through …thanks allot sir
Akinsele Maryam Temitope says
I pray is the question that will come out. Thanks
Immanuel Ikenna says
thanks a lot but, the question is too hard.. try to break it down in some other time
mhiz dreamz says
thanks
Michael Oyekola says
Thanks a lot.