Jamb 2021 Economics Past Questions And Answers
1
Which of these is not a cause of high population growth in Nigeria?
- A. Improved hygiene
- B. Reduction in death rate
- C. Family planning unit of Nigeria
- D. Increased birth rate
2
In a perfect competition, the market price is determined by_______
- A. the government
- B. the producer
- C. the consumer
- D. the market supply and demand junctions
3
Inflation can be curbed by _______
- A. Deficit budget
- B. Paying higher wages
- C. Increased aggregate demand
- D. Reducing aggregate demand
4
Which of these is not usually the function of a wholesaler?
- A. Branding
- B. Storage
- C. Transport
- D. Advertising
5
Mono production economies are those that____
- A. Produce one main commodities
- B. Have a rich cultural heritage.
- C. Specialize in agricultural industries.
- D. Produce only raw materials.
6
When a nation's exports are greater than its imports,_________
- A. The net foreign trade is zero
- B. A favourable balance of trade exists
- C. A favourable balance of payment exists
- D. An unfavourable balance of trade exists
7
Under the ECOWAS agreement, a Nigerian can enter and stay in Ghana without a Visa for a period of ________
- A. 100 days
- B. 30 days
- C. 90 days
- D. 14 days
8
The price mechanism______
- A. Rations the consumers
- B. Rewards the producers
- C. Regulates supply and demand
- D. Allocates scarce resources.
9
The value of money depends primarily on _________
- A. The gold backing of the currency
- B. The general price level
- C. Government decree that it is legal tender
- D. None of the above
10
Oligopoly means _________
- A. single buyer in the market.
- B. few buyers in the market.
- C. few sellers in the market
- D. More sellers in the market