JAMB Economics 2020 Past Questions

Scarcity in economics means?

Economics is often described as a social science because?

Which of the following is an example of an invisible item on the balance of payments account

A major factor affecting the value of money is the?

The Nigerian bank for commerce and industry is?

To control inflation, the monetary authorities of a country can

Which of the following is used by the central bank to control the rate of interest

What form of market is found in an imperfect competition where there are few buyers and many sellers

A budget with a projected revenue in excess of its expenditure is said to be?

In order to raise more revenue for a certain period, the government should impose higher taxes on goods whose demand

If aggregate income is N500.00 and aggregate consumption is N400.00, this means that the average propensity to consume is?

The group of unemployed members of a community who are physically handicapped or disable, is generally classified under unemployment as?

Collectivism refers to the management of state enterprises in a?

Efficiency in production means?

In economic life, the choice among alternatives depends on the?

The law of diminishing marginal utility indicates that if a consumer increases his consumption of a commodity continously

Which of the following rewards is associated with entrepreneurship

Which of the following is likely to be inflationary

The relationship between the tax rate and income which is relevant to progressive tax is shown by?

The relationship between tax rate and income which is relevant to a proportional tax is depicted by?

Fiduciary issue is that part of?

The type of business finances that entitles the holder to a fixed rate of dividend is?

A company's expenditure on raw materials is regarded as?

Firms are often set up close to each other in order to take advantage of?

A situation in which a commodity is sold abroad below its cost of production in the home country is known as?

The problem of conducting census include 

The factor of production that has the highest degree of mobility is? 

In recent times, agriculture in Nigeria tends to lose its vital labour force as a result of?

The most important goal of OPEC is to?

Plywood industries are often located near the source of?

When a country's population is experiencing increasing returns, that country is said to be?

The most important attribute of money is?

The use of legally permissible means to reduce tax liabilities is known as tax?

The Economic Commission for Africa was set up by the?

One of the techniques of monetary control used by the central bank of Nigeria is

Crude petroleum is a good example of a 

A major effect of a long distribution chain is 

One of the major criticism of the 1962 -1968 National Development Plan was that?

Utility is the satisfaction derived from?

Economic growth is different from economic development because economic growth

Scarcity in economics means?

Economics is often described as a social science because?

Which of the following is an example of an invisible item on the balance of payments account

A major factor affecting the value of money is the?

The Nigerian bank for commerce and industry is?

To control inflation, the monetary authorities of a country can

Which of the following is used by the central bank to control the rate of interest

What form of market is found in an imperfect competition where there are few buyers and many sellers

A budget with a projected revenue in excess of its expenditure is said to be?

In order to raise more revenue for a certain period, the government should impose higher taxes on goods whose demand