JAMB Economics Questions and Answers for 2022/2023 (CBT)

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Today’s JAMB Economics questions and solutions are set like different JAMB questions and tomorrow’s JAMB Economics questions and solutions will nonetheless take the identical format.

 

Knowing the proper element to do could make you stand a higher threat of scoring excessive on this 2021 JAMB exam.

 

Bekeking crew has taken high-satisfactory time to offer JAMB Economics questions and solutions for 2021 to allow JAMB applicants to carry out properly of their JAMB Economics exam so one can get admission at ease.

JAMB Economics Questions and Answers (Expo)

JAMB Economics Answers 2022 Loading…

 

Note: The questions and solutions under are for practice.

 

  1. Developments outdoor a given corporation that lessen the corporation’s charges are called
  2. inner economics
  3. outside economics
  4. outside diseconomies
  5. optimal effects

 

ANSWER: B (outside economics)

 

  1. If at 10K in keeping with kg, 1000kg of yam have been purchased, the ensuing factor elasticity of call for is
  2. 0.33
  3. 0.0001
  4. 1

D.10000

 

ANSWER: C (1)

 

  1. A state of affairs wherein all inputs are doubled and output additionally doubles is thought as
  2. consistent proportions
  3. growing returns to scale
  4. consistent returns
  5. consistent returns to scale.

 

ANSWER: D (consistent returns to scale)

 

  1. Economic items are termed scarce once they are
  2. now no longer to be had in enough portions to meet all wishes for them
  3. now no longer produced in enough portions to meet the powerful call for for them
  4. of excessive high-satisfactory
  5. of number one significance in fulfilling the desires of society.

 

ANSWER: A (now no longer to be had in enough portions to meet all wishes for them)

 

  1. Which of the subsequent conditions can provide upward push to monetary issues
  2. limitless human wishes
  3. wishes of various significance
  4. restricted approach to be had for fulfilling wishes
  5. approach utilized in exceptional methods

 

ANSWER: C (restricted approach to be had for fulfilling wishes)

 

  1. In the lengthy run, all manufacturing elements are
  2. fixed
  3. semi-fixed
  4. variable
  5. semi-variable

 

ANSWER: C (variable)

 

  1. The benefit which companies achieve immediately from increasing their operations are mentioned as

 

  1. inner economies of scale

 

  1. outside economies of scale

 

  1. economics of localization

 

  1. economies of useful resource allocation

 

ANSWER: A ( inner economies of scale)

 

  1. The impact of adjustments withinside the circumstance of call for on a call for agenda with the charge consistent is a
  2. motion alongside the call for curve
  3. deflation of the call for curve
  4. hyperbola formation via way of means of the call for curve
  5. shift of the call for curve

 

ANSWER: D (shift of the call for curve)

 

  1. If a call for curve that intersects a wonderfully inelastic deliver shifts rightward, then
  2. the equilibrium charge and amount will boom
  3. best the charge will boom
  4. best amount will boom
  5. the charge will continue to be consistent

 

ANSWER: B (best the charge will boom)

 

  1. If the value of manufacturing for a corporation keeps to boom as its output rises, the corporation is stated to be experiencing
  2. a massive scale of manufacturing
  3. income maximization
  4. economies of scale
  5. diseconomies of scale

 

ANSWER: D ( diseconomies of scale)

 

  1. Economic items are termed scarce items once they are
  2. now no longer to be had in enough amount to meet all wishes for them
  3. now no longer produced in enough portions to meet the powerful call for of them
  4. of excessive high-satisfactory
  5. of number one significance in fulfilling the desires of a society

 

ANSWER: A (now no longer to be had in enough amount to meet all wishes for them)

 

  1. If gadgets of a variable issue are an increasing number of delivered to a set issue and the marginal bodily product continues growing, manufacturing is stated to be taking location below circumstance of
  2. growing returns to the variable issue
  3. growing returns to scale
  4. consistent go back to the variable issue
  5. outside economies of scale

 

ANSWER: B (growing returns to scale)

 

  1. The everyday associate in a partnership
  2. takes no lively element withinside the control of the enterprise
  3. has restricted legal responsibility in case of enterprise
  4. has limitless legal responsibility in case of enterprise failure
  5. can not be sued in my view on topics regarding the enterprise

 

ANSWER: C (has limitless legal responsibility in case of enterprise failure)

 

  1. A viable issue which limits the quantity of increase of a corporation is the
  2. life of a monopoly
  3. bureaucratic delays in choice making
  4. use of via way of means of-merchandise
  5. unwillingness to proportion possession and control

 

ANSWER: D ( unwillingness to proportion possession and control)

 

  1. A downside of a joint-inventory agency is
  2. limitless legal responsibility
  3. restricted legal responsibility
  4. continuity
  5. lack of controlling hobby

 

ANSWER: D (lack of controlling hobby)

 

  1. An impact of inflation is that it
  2. discourages exchange via way of means of barter
  3. favours borrowers on the cost of creditors
  4. will increase the actual profits of income earners
  5. will increase the price of a country’s export

 

ANSWER: B ( favours borrowers on the cost of creditors)

 

  1. Budget deficit is the quantity via way of means of which
  2. general expenditure exceeds sales

 

  1. recurrent expenditure exceeds sales

 

  1. capital expenditure exceeds sales

 

  1. recurrent expenditure exceeds capital expenditure

 

ANSWER: B (recurrent expenditure exceeds sales)

 

  1. Under bendy trade rates, a deficit can be corrected via way of means of
  2. freezing the gold factor
  3. appreciation of different currencies
  4. disposing of export subsidies
  5. disposing of tariffs

 

 

ANSWER: B (appreciation of different currencies)

 

  1. If W stands for wages/salaries, P for profits, R for hobby and Z for hire on land and actual estate, then countrywide profits is
  2. WPRZ
  3. W+P+Z-R
  4. PRZ+W
  5. W+P+R+Z

 

ANSWER: D (W+P+R+Z)

 

  1. A made impediment to monetary improvement is
  2. a upward push in commercial output
  3. low farm productivity
  4. unfastened exchange
  5. useless exchange union

 

ANSWER: B (low farm productivity)

 

  1. IBRD as an global financial group is involved with the
  2. stability of bills issues of member nations
  3. financing of personal enterprise in member nations
  4. improvement of infrastucture in member nations
  5. development of exchange amongst member state

 

  1. An benefit of the only proprietorship over the partnership shape of enterprise organisation is that
  2. it enjoys restricted legal responsibility for debt withinside the occasion of failure
  3. Its life is restricted via way of means of an individual’s existence span
  4. It is based at the choice of pals to succeed
  5. The opportunity of battle is control in genuinely non-existent

 

  1. The difference among capital and recurrent expenditure lies withinside the
  2. quantity of expenditure involved
  3. supply of the sales generated
  4. nature of the products and offerings to be provided
  5. time body of the expenditure

 

 

  1. Under a floating trade fee regime, the determinant of the trade fee is
  2. the machine of presidency
  3. call for for and deliver of overseas items
  4. the best denomination of the forex an act of the countrywide assembly

 

  1. To examine the usual of dwelling amongst nations, the maximum extensively used monetary indicator is the
  2. in keeping with capital nominal profits
  3. actual home output
  4. actual gross countrywide profits
  5. actual in keeping with capital profits

 

  1. Statutory firms commonly installed via way of means of Acts of parliament are called
  2. public establishments
  3. public corporations
  4. cooperative societies
  5. joint-inventory businesses

 

  1. A more burden of the taxes on vital items is borne via way of means of the
  2. better profits group
  3. newly recruitment workers
  4. decrease profits group
  5. settlement workers

 

  1. Privatization and commercialization of public establishments in Nigeria is necessitated via way of means of
  2. the IMF conditions
  3. the IBRD conditions
  4. the government’s lack of hobby in them
  5. their operational inefficiency

 

  1. The idea of comparative benefit states that a commodity need to be produced in that state in which the
  2. absolute value is least
  3. absolute cash value is least
  4. possibility value is least
  5. manufacturing opportunity curve will increase

 

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  1. The impact of an boom withinside the non-public profits tax is to
  2. increases absolutely the charge stage
  3. distort the economy
  4. lessen unemployment
  5. lessen the disposable profits

 

  1. An vital issue hindering the speedy improvement of the economic region in Nigeria.
  2. immoderate call for for completed merchandise
  3. the dominance of the oil region
  4. rural-city migration
  5. insufficient infrastructure facilities

 

  1. The call for for labour is an instance of
  2. aggressive call for
  3. derived call for
  4. composite call for
  5. joint call for

 

  1. The essential function of multi-countrywide businesses withinside the petroleum enterprise in Nigeria is
  2. oil prospecting best
  3. oil advertising best
  4. the established order of refineries
  5. oil advertising prospecting

 

  1. An vital issue hindering the speedy improvement of the economic region in Nigeria.

 

  1. immoderate call for for completed merchandise

 

  1. the dominance of the oil region

 

  1. rural-city migration

 

  1. insufficient infrastructure facilities

 

  1. The call for for labour is an instance of

 

  1. aggressive call for

 

  1. derived call for

 

  1. composite call for

 

  1. joint call for

 

  1. The essential function of multi-countrywide businesses withinside the petroleum enterprise in Nigeria is

 

  1. oil prospecting best

 

  1. oil advertising best

 

  1. the established order of refineries

 

  1. oil advertising prospecting

 

  1. Fixing the charges of agricultural merchandise may be a hassle due to the

 

  1. unpredictable output of farmers

 

  1. instability of presidency policies

 

  1. sports of advertising boards

 

  1. length of agricultural exports

 

  1. Occupational mobility as carried out to elements of manufacturing approach the case via way of means of which

 

  1. elements may be transferred from one location to another

 

  1. elements may be transferred from one shape circulate customers to another

 

  1. sources may be transferred from one location to another

 

  1. sources may be converted from one shape to another

 

See:

 

List of colleges and their courses

List of Schools and their Cutoff Marks

List of Federal Universities in Nigeria and Their School Fees

List of State Universities in Nigeria and Their School Fees

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