Study and practice Economics past questions with answers and detailed explanations. Then test your knowledge using our interactive CBT practice platform and prepare confidently for your upcoming examinations.
A major cause of the slow pace of industrialization in Nigeria is inadequate
Araw materials
Blandmass
Cskilled labour
Dcommunal labour
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Question 642
jamb2004
The purpose of conducting a census is to enable a country to
Aplan her capital inflow and outflow
Bdetermine the optimum level of population
Cdetermine the growth rate of population
Dplan her growth and development
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Question 643
jamb2004
The movement of goods and services from the producers to the consumers is referred to as
Aexternal trade
Bthe distribution chain
Cthe circular flow
Dconsumption
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Question 644
jamb2004
The downstream activities of oil companies in Nigeria involve
Arefining and distribution
Bprospecting and exploration
Coff-shore drilling
Dmanagement of spillage and pollution
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Question 645
jamb2004
The distinction between perfect competition and monoplistic competition is that the latter is characterized by
Aa single market price
Bmany buyers and sellers
Cproduct differentiation
Dhomogeneity of product
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Question 646
jamb2004
GDP differs from GNP because GDP
Ais inclusive of depreciation
Bemphasizes the final goods and service produced within the country at a particular period
Cemphasizes the goods and services within the country
Demphasizes the market value of all final goods and services produced by nationals
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Question 647
jamb2004
Which financial institution is charged with the formulation of monetary polices in Nigeria?
AThe Central Bank of Nigeria
BThe Nigeria Deposit Insurance Corporation
CThe Abuja Commodity Exchange
DThe Lagos Stock Exchange
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Question 648
jamb2004
The capital market provides business firms with the avenue to
Alease capital equipment
Bobtain long-term funds
Cobtain short-term funds
Dpurchase capital equipment
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Question 649
jamb2004
In an open economy, the GNP is measured as
AC+I+G+X
BC+I+G+(X-M)
CC+I+G+M
DC+I+G
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Question 650
jamb2004
The primary function of non-bank financial institutions is to
Amanage investment portfolios for government
Bmobilize savings for investment
Cgrant loans to banks
Dreceive deposits from banks
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Question 651
jamb2004
At the maximum point of the total product curve of a firm, marginal revenue is
Adecreasing
Bincreasing
Cconstant
Dzero
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Question 652
jamb2004
The role of the Central Bank in the economic development of Nigeria is to
Agive short-and medium-term loans to the public
Bgive financial and technical advice to customers
Cuse cheques and bankdrafts to faciliate business transactions
Dmaintain a stable price system
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Question 653
jamb2004
By advertising, a monopolistic competitive firm tries to shift its
Asupply curve to the right
Bdemand curve to the right
Csupply curve to the left
Ddemand curve to the left
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Question 654
jamb2004
Given that Y = C + I and C = bY where b = 0.8, what is the multiplier?
A5
B10
C4
D2
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Question 655
jamb2003
The theory of comparative advantage states that a commodity should be produced in that nation where the
AAbsolute cost is least
BAbsolute money cost is least
COpportunity cost is least
DProduction possibility curve increases
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Question 656
jamb2003
The commercial banks differ from non-bank financial institutions because they
AAccept deposits withdrawable by cheque
BMobilize savings
CInvest surplus funds
DContribute to economic development
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Question 657
jamb2003
The best method of production in an under populated country is
ALabour-extensive
BLand-intensive
CCapital-intensive
DLabour-intensive
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Question 658
jamb2003
In the table above, the price of commodity y is N2 and that of x is N1 while the individual has an income of N12. Determine the combination of the two commodities the individual should consume to maximize his utility
A3y and 3x
B6y and 4x
C3y and 6x
D5y and 5x
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Question 659
jamb2003
If the country is currently producing at point Y, it can increase production of producer goods by moving to the point
AV
BW
CX
DZ
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Question 660
jamb2003
Use the production possibility curve of a country represented in the diagram above to this questions.An improvement in technology will enable the country to produce at
