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Questions To Expect In Jamb Economics (Jamb 2021)

Questions To Expect In Jamb Economics

You’re here: Questions To Expect In Jamb Economics (Jamb 2021). Are you looking for jamb 2021 possible questions for Economics?

Are you wanting to get jamb Economics possible questions? do want to pass jamb 2021 and you are looking for ways to find questions or get answers to the jamb 2021 Economics? in this article, I will give you 2021 jamb 40 likely questions on Economics, kindly read and answer them on your own, the purpose of these questions is for you to study and get familiar with them…

Questions To Expect in Economics 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

Practice Jamb Economics likely question 2021 Online

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.

Jamb Syllabus and hot topics for all Subjects

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

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

How To Study For Two Weeks And Pass Jamb (Jamb solution 2021)

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

Questions To Expect in Economics: this 40 Questions and answers will cover every Chapter in Jamb Economics. However, the Likely Economics Questions will not be arranged topic by topic. You may want to click here for likely questions from Jamb Sweet Sixteen or go through over 40 Jamb Commerce Questions by clicking here.

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  1. Well done sir, pls can we get a link through which we can download the app

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