Jamb 2011 Economics Past Questions And Answers
1
Industrial development in Nigeria can be encouraged through
- A. signing WTO treaty
- B. granting subsidies
- C. the provision of efficient infrastructure
- D. direct government participation
2
The graph of the schedule below will depict
- A. a kinked demand curve
- B. a normal demand curve
- C. an abnormal demand curve
- D. a diminishing marginal utility curve
3
The record of a country's transactions in international trade is her
- A. capital account
- B. balance of payments
- C. current account
- D. balance of trade
4
Trade takes place because of
- A. marginal utility
- B. inefficiency in production
- C. opportunity cost
- D. comparative advantage
5
If the demand for one commodity excludes another, it is said to be
- A. complementary demand
- B. competitive demand
- C. composite demand
- D. derived demand
6
The transfer to public shareholding corporations to private enterprises is
- A. concession
- B. incorporation
- C. commercialization
- D. privatization
7
One of the limitations PPC assumption is that there is
- A. no indication of technological development
- B. no recognition of preferred goods for countries
- C. technical inefficiency
- D. abundant resources
8
In modern economies, the Malthusian theory of population is ineffective because of
- A. birth control measures
- B. technical progress
- C. government policies
- D. natural disasters
9
The import-substitution strategy of industrialization is to encourage
- A. domestic production
- B. large-scale production
- C. importation
- D. exportation
10
The median of an odd-numbered set of scores is the
- A. Middle value in the set
- B. Highest value in the set
- C. Arithmetic means of the set
- D. Most frequent occuring score