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.
PAGE CONTENTS
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
Read Also: Get flashlearners app to access all questions
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
Read Also: Get flashlearners app to access all questions
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
Hope you found this helpful? Feel free to share with your friends and don’t fail to drop your comment.
Read Also: Get flashlearners app to access all questions
Eze ifeoma says
very useful..Thanks
Samuel Dadson says
Thank You Very Much Sir
Tade Olajumoke says
God bless you
Winikelly kalu says
Thank you sir for using this blog to enlighten me,remain blessed.
Isaac Inegbenehi says
Amen, Thank you Kalu
hay jay says
thank you sir,i will use this questions to prepare for jamb and i will pass in the name of God
Anonymous says
Thank u Very much sir
Isaac Inegbenehi says
Your’e welcome
deborah says
thank you
Aboy says
Thank you so much, it really helped me
Anonymous says
Thank you so much it really helped me
Isaac Inegbenehi says
I am glad you found it helpful
Morentes says
Thank you for dis offer
horla says
thank you sir
Victor says
Thanks so much God bless you sirðŸ™ðŸ’¯
Felix says
Tanks a lot 4 what u done on 2 our life God bless u sir
Emefile chima says
wow….you’ve really added to my knowledge
keep the good work going
we need more people like you in our country…
bashir abubakar says
may Allah reward you sir
joey josh says
thanks a million sir it was very useful….
Emmanuel peter says
may god bless u a lot sir
Kenny says
Tanx sir ..and may God bless u with grace ..
Omolola says
Am so so grateful for this sir, may Allah reward you abundantly, and I believe with your help and gods help all candidates sitting for jamb will pass and gain admission this year in the mighty name of Allah, including me, we shall all make it and so shall it be, wish you best of luck friends and love you all
Anonymous says
nd u too
Anonymous says
Thanks so much sir
Jesusola Samuel Ayomide says
Thanks sir u will be successful sir
annie says
god bless u sir
blessing says
thanks a lot sir
Anonymous says
thanks a lot sir
Joss says
Thanks