Your browser seems to have Javascript disabled. We're sorry, but in order to log in and use all the features of this website, you will need to enable JavaScript in your browser. Prepare yourself with official past questions and answers for your upcoming examinations. If X represents the factors of production and Y represent the factor price, which of the following sets of association iscorrect?

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It covers many years starting from to Finally, you came to the right place. You will be happy to get this and start getting prepared right away. You sure need to pass this exam, and believe me, you will.

Please see the end of this page to learn how to download it. Note: The main purpose of this past question and answer is to reveal to you the nature and scope of the JAMB examination as well as help you gain confidence before the examination. Nevertheless, we are confident that you will be on the fly after preparing your memory with this resource here. Which of the following items is NOT included in measuring national income by the income approach? Wages and salaries of public servants B.

Student grants and scholarships. Profits of companies. Income earned by self employed persons such as lawyers. Rents on property. A down ward sloping demand curve intersects a fixed supply curve. Ashift of this demand curve to the right implies that A. Which of the following items is NOT an argument for locating industries in rural areas?

Rural areas supply agricultural raw material. The pace of development will be quickened in rural areas. Employment will be provided for rural inhabitants. Capital is easily available in rural areas. Suitable humid climate is sometimes found in rural areas.

The curves D0D0 and S0S0 are the demand and supply curves respectively. What happens government subsidizes producers in order to boost output?

The demand curve will shift fromD0D0 toD1D1. The natural growth rate of a population is the A. Sum of the birth rate and the death rate B. Sum of the birth rate and the net migration rate C. Birth rate minus the death rate D.

Birth rate divided by the net migration E. Death rateminus the net migration. Which of the following sets fully represents factor of production? Sunlight,machinery, man, land B. Land, labour, capital, enterprise technology C. Capital, technology, ideas, market, land. Land,water, weather. Money, market, middlemen. Production possibilities alternatives P Q R S T Units of shelter 5 4 3 2 0 Units of food 0 5 9 12 15 Based on the above production possibilities table, the real cost of a unit of food when alternative R is selected is A.

One unit of shelter B. Three units of shelter C. One third of a unit of shelter D. Six units of shelter E. Two units of shelter. The concept of economic efficiency primarily refers to A. Obtaining the maximum output from available resources at the lowest possible cost B. Conservation of our petroleum resources C. Producing without waste E. The limited wants unlimited resources dilemma.

If successive units of labour are added to a piece of land while capital and technology remain constant, a point will be reached in the level of production when each added unit of labour will add less to the output than previous units of labour.

The productivity of labour B. The lawof diminishingmarginal utility C. The lawof diminishing returns D. The concept of factor intensity E. Labour intensive production.

This form maximizes its profits when its marginal cost MC is equal to price p. Curve I B. Curve II C. Curve III D. Curve IV. Project File Details. Description Finally, you came to the right place. Economics 1. The demand curve will shift fromD0D0 toD1D1 5. The limited wants unlimited resources dilemma 9. Curve IV E. All rights reserved.



The more you practice the more you gain mastery and the more youur chances of scoring high in the actual JAMB exam. The secret to success is never quiting. It is no news that JAMB could be tactical with their mode of question and scoring techniques. Learn how to stay a step ahead of JAMB this year. And when you meet him, He will win. Home Login Register.


Economics JAMB Past Questions and Answers PDF Download

Call The board conducts entrance examinations for prospective undergraduates into Nigerian universities. The price of a good rises from N5 to N8 and the quantity demanded falls from to units. Over this price range, the demand curve is A.


Welcome to JAMB CBT Test Economics Practice Past Questions And Answers

Knowing the right thing to do would make you stand a better chance of scoring high in this JAMB examination. If at 10K per kg, kg of yam were purchased, the resultant point elasticity of demand is A. A situation in which all inputs are doubled and output also doubles is known as A. Economic goods are termed scarce when they are A. Which of the following situations can give rise to economic problems A. In the long run, all production factors are A.

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