JAMB Economics 2020


JAMB Economics 2020

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Utility is the satisfaction derived from?

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The Economic Commission for Africa was set up by the?

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In order to raise more revenue for a certain period, the government should impose higher taxes on goods whose demands are___

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A major effect of a long distribution chain is

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The law of diminishing marginal utility indicates that if a consumer increases his consumption of a commodity continously

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The Nigerian bank for commerce and industry is?

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Fiduciary issue is that part of?

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The most important goal of OPEC is to?

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Which of the following rewards is associated with entrepreneurship

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In recent times, agriculture in Nigeria tends to lose its vital labour force as a result of?

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Which of the following is used by the central bank to control the rate of interest

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Efficiency in production means?

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The group of unemployed members of a community who are physically handicapped or disable, is generally classified under unemployment as?

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The factor of production that has the highest degree of mobility is?

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What form of market is found in an imperfect competition where there are few buyers and many sellers

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A company's expenditure on raw materials is regarded as?

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The relationship between tax rate and income which is relevant to a proportional tax is depicted by?

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The most important attribute of money is?

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Plywood industries are often located near the source of?

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The use of legally permissible means to reduce tax liabilities is known as tax?

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In economic life, the choice among alternatives depends on the?

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Economics is often described as a social science because?

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Which of the following is likely to be inflationary

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A situation in which a commodity is sold abroad below its cost of production in the home country is known as?

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The type of business finances that entitles the holder to a fixed rate of dividend is?

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Crude petroleum is a good example of a

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Economic growth is different from economic development because economic growth

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A major factor affecting the value of money is the?

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A budget with a projected revenue in excess of its expenditure is said to be?

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To control inflation, the monetary authorities of a country can

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Which of the following is an example of an invisible item on the balance of payments account

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When a country's population is experiencing increasing returns, that country is said to be?

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Collectivism refers to the management of state enterprises in a?

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The relationship between the tax rate and income which is relevant to progressive tax is shown by?

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The problem of conducting census include

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One of the major criticism of the 1962 -1968 National Development Plan was that?

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One of the techniques of monetary control used by the central bank of Nigeria is

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If aggregate income is N500.00 and aggregate consumption is N400.00, this means that the average propensity to consume is?

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Firms are often set up close to each other in order to take advantage of?

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