Join Our Whatsapp Channel
JAMB

Economics JAMB TEST

Economics JAMB/UTME MOCK

1 / 40

1.

Related Articles

Institutions serving as links between surplus and deficit units can be identified as

2 / 40

2.

The sign of the slope of a graph in economic analysis is important because it

3 / 40

3.

If a business' total economic cost of producing 10,000 units of a product is N750,000 and this output is sold to consumers for N1,000,000, then the firm would earn

 

4 / 40

4.

Economists refer to private goods as

 

5 / 40

5. The Nigerian bank for commerce and industry is?

6 / 40

6.

Scarcity in economics means?

 

7 / 40

7.

___ is presently used in Nigeria to measure inflation

 

8 / 40

8.

The part of income after tax that is not consumed is defined as

 

9 / 40

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

10 / 40

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

11 / 40

11.

One of the assumptions of ordinal utility theory is that

12 / 40

12.

An increase in total production (real GDP) causes the demand for money to ______and the interest rate to _________

13 / 40

13.

To control inflation, the monetary authorities of a country can

 

14 / 40

14. A major factor affecting the value of money is the?

15 / 40

15.

Economics is often described as a social science because?

 

16 / 40

16.

An important function of the price system is to

17 / 40

17.

The rate of output per group of workers, per unit time is called

18 / 40

18.

Consumer surplus tends to be higher when demand is

19 / 40

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

20 / 40

20.

If the price of an item increases by 8% while the quantity demanded falls from 1500 units to 1492 units, the demand is said to be

21 / 40

21.

The theory of ............... was propounded by ..................

 

22 / 40

22.

A major disadvantage of a socialist economy is that

23 / 40

23.

If the quantity of rice bought decreases from 250 tonnes to 200 tonnes owing to a 2% rise in price, it shows that there is a change in

24 / 40

24.

The privatization of public enterprises will lead to efficient management of resources in the economy.
This statement can best be described as

25 / 40

25.

If the demand for a good is more elastic than its supply, the tax burden is borne

26 / 40

26.

The decision to consume more of one product under normal circumstances will apply

 

27 / 40

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

28 / 40

28.

The downturn in the prices of shares on stock markets is a highlight of

29 / 40

29. The standard deviation of a set of data is

30 / 40

30.

If the price of a commodity with elastic demand increases, the revenue accruing to the producer will

31 / 40

31.

Fixing price above equilibrium will cause

32 / 40

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

33 / 40

33.

Economics is the study of human behaviour as it relates to the

34 / 40

34.

The cost elasticity of supply is a useful instrument for measuring

35 / 40

35.

Government uses all of the following ways to redistribute income, except

36 / 40

36.

The most popular sizes of dresses and shoes are determined by the

37 / 40

37. The invisible hand promotes the interests of

38 / 40

38.

The mean is the best measure of central tendency because it

39 / 40

39.

The law of diminishing marginal utility explains why

40 / 40

40.

A rise in income will, ceteris paribus, bring about

Your score is

The average score is 18%

0%

Phil

Phil aka Undergragra is a Computer Engineering Graduate at the Federal University Oye-Ekiti. He is a lover of God, a passionate teacher, writer and an educational consultant.

Related Articles

0 0 votes
Article Rating
Subscribe
Notify of
guest

0 Comments
Oldest
Newest Most Voted
Inline Feedbacks
View all comments

You cannot copy content of this page

0
Would love your thoughts, please comment.x
()
x

Adblock Detected

You use an adblocker, kindly disable it to use this website.