JAMB CBT Economics Past Questions and Answers | Download PDF

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Download complete JAMB CBT Economics Past Questions and Answers PDF here. Economics is one of the compulsory JAMB subjects for candidates wishing to study social science courses.

Download jamb cbt past questions on economics here. We have discovered so many repeated questions in JAMB. In the previous exam, candidates who use jamb economics past question and answer to prepare for the exam performed very well.

We have compiled up-to-date jamb past questions and answers for economics for you. We spend the time to solve all questions and provide accurate answers to help you during preparation. See the step-by-step guide on how to download Economics jamb past questions and answers here.

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We also have JAMB CBT software for economics. With this jamb practice software, you can learn and practice jamb past questions and answers in economics using your smartphone or computer. This makes learning very easy.

With Economics JAMB past questions, you will see the nature of the questions and prepare very well ahead of the exam. See how to get your jamb economics past question and answer here.

Sample JAMB Past Questions and Answers on Economics

1. Which of the following items is NOT included in measuring national income by the income approach?
A. Wages and salaries of public servants
B. Student grants and scholarships.
C. Profits of companies.
D. Income earned by self employed persons such as lawyers.
E. Rents on property.

2. A down ward sloping demand curve intersects a fixed supply curve. Ashift of this demand curve to the right implies that
A. both price and quantitywill increase
B. only price increase
C. only quantity increase
D. the price remains constant
E. the price falls.

3. Which of the following items is NOT an argument for locating industries in rural areas?
A. Rural areas supply agricultural raw material.
B. The pace of development will be quickened in rural areas.
C. Employment will be provided for rural inhabitants.
D. Capital is easily available in rural areas.
E. Suitable humid climate is sometimes found in rural areas.

4. The curves D0D0 and S0S0 are the demand and supply curves respectively. What happens government subsidizes producers in order to boost output?
A. The supply curve will shift S0S0 to S2S2
B. The supply curve will shift fromS0S0 to S1S1
C. The supply curve will shift fromS2S2 to S1S1
D. The supply curve will shift fromS1S1 to S0S0
E. The demand curve will shift fromD0D0 toD1D1

5. 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.

6. Which of the following sets fully represents factor of production?
A. Sunlight,machinery, man, land
B. Land, labour, capital, enterprise technology
C. Capital, technology, ideas, market, land.
D. Land,water, weather.
E. Money, market, middlemen.

7. 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.

8. 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. Equity in the distribution of the nation’s wealth
D. Producing without waste
E. The limited wants unlimited resources dilemma

9. 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.
A. The productivity of labour
B. The lawof diminishingmarginal utility
C. The lawof diminishing returns
D. The concept of factor intensity
E. Labour intensive production.

10. In perfect competition a firm’s price is equal to its marginal revenue which is again equal to average revenue. This form maximizes its profits when its marginal cost (MC)is equal to price (p). Which of the curves in the diagram below represents the firm’s marginal cost (MC?
A. Curve I
B. Curve II
C. Curve III
D. Curve IV

E. Curve I and III

The cost of the newly updated JAMB CBT Past Questions and Answers on Economics is 2,000.00 naira only.

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