JAMB Economics 2017 Past Questions

A firm owned and managed by a family is an example of ______?

Which modal of the factor is inelastic?

Which of the following budgets will increase government expenditure?

The economic questions about what and how to produce in an economy is solely answered by the _______?

The following are Methods of measuring National Income of a country EXCEPT; ?

Petro-chemical industries are located in the Rivers State of Nigeria because of ________?

The bowed shape of the Production possibilities curve illustrates _________

The graph above represents _______

The law of diminishing marginal utility states:

Which of the following is not a function of the money market?

The population theory that is concerned with the cases of over population and shortage of food production is ______

The basic aim of Economic Community of West African States is the

The production within domestic territory of a country is called the _____

Excess supply over demand will place a price advantage on _____

Given that ∑fx = 340 and N = 20, find the arithmetic mean.

One of the reasons why Nigeria is a mono-economy is because of her _______

Given that the total production of Bandako farmers with one worker is 10kg. When the workers increased to 2, 3, and 4, the total production increases to 20, 36 and 60kg respectively.

Calculate the average product (AP) of the 4th unit of labour.

Which of the following is NOT an instrument in the money market?

Given that Qd = 10 - 2p while Qs = 5 x 3P, if P = N 1 determine the equilibrium quantity

A country's terms of trade can be improved by ____?

Changing the structure of a commodity in order to increase its utility is called?

Which of the following is not an indicator of economic growth?

One of the unique features that distinguishes the perfect and imperfect market condition is _________

In economics, the “how” or input question refers to:

The modal value of 3, 8, 4, 6, 3, 5, 2, 7, 3 and 5 is

One of the major causes of farmers' unstable income in Nigeria is _________

Which of the following source of income is spectacular only to Government ?

When the government fix the price of essential commodities, this is referred to as:

One of the functions of the price system is that it

Which of the following is NOT illustrated by the production possibility curve

Which of the following statement is TRUE about ECOWAS?

The equilibrium price clears the market; it is the price at which___________

The graph above shows;

Goods sold in perfectly competitive markets are generally

Cost - push inflation occurs when_______

The basic principle of cooperative societies is to ________

From the table above, the average product of the 3rd unit of labour is

Which of the following institutions does not operate in the money market?

Other products gotten from Petroleum include the following EXCEPT:

\(\frac{∑f(x-x̄)}{N}\)

Is a formula used to calculate for ____________

Completely competitive market exist when each member is a —

Given a consumption function C = 10 + 0.6Y, determine the value of C if Y is 20

A partnership sourcing for funds to expand its business would approach _______

Opportunity cost helps the government to:

Which of the following is NOT a source of government revenue?

Which of these is a type of partnership in business?

Which of the following is an indirect tax?

Localization of industry is encouraged because of ________

Which of the following is correct?