Jamb 2008 Economics Past Questions And Answers
1
A major impediment to the development of agriculture in Nigeria is
- A. land use system
- B. inadequate supply of farm inputs
- C. low income of farmers
- D. limited research on seedlings
2
JAMB 2008 A major trading problem facing ECOWAS is
- A. the absence of common currency
- B. political instability
- C. high poverty level
- D. non implementation of decisions
3
A major consideration in locating a cement factory is the availability of
- A. skilled labour
- B. power
- C. infrastructural facilities
- D. limestone
4
The active population of a country determines the size of its
- A. economic resources
- B. national income
- C. labour force
- D. gross domestic product
5
A major determinant of the demand for a luxury goods is
- A. the price of the goods
- B. the price of other goods
- C. the income of consumers
- D. tastes and fashion
6
The exports-promotion strategy is aimed at producing
- A. consumer goods originally imported
- B. machinery for industries
- C. more goods for exports
- D. more goods domestic consumption
7
The production possibility curve can be used to explain the underlying concepts of
- A. scale of preference and choice
- B. opportunity cost and choice
- C. wants and means
- D. opportunity cost and scale of preference
8
The economic policy of privatization came up as a result of the poor performance of
- A. commercial banks
- B. small-scale businesses
- C. public enterprises
- D. private enterprises
9
The use of government revenue and expenditure to achieve set objectives is known as
- A. budget
- B. fiscal policy
- C. revenue allocation
- D. monetary policy
10
A high rent on land will affect the cost of producing maize
- A. at the early stage of production
- B. negatively
- C. at the later stage of population
- D. positively