Economics 1982 Jamb Past Questions and Answers

Question 1 :

• JAMB 1982

Economics is a science which deals basically with

A. The factors of production
B. Allocation of scarce resources
C. Oil exportation
D. The gross domestic product (GDP)
E. National income

Question 2 :

• JAMB 1982

Economics is a science which deals basically with

A. The factors of production
B. Allocation of scarce resources
C. Oil exportation
D. The gross domestic product (GDP)
E. National income

Question 3 :

• JAMB 1982

Economist speak about 'opportunity cost' when a person

A. Has the opporunity to attain a high degree of cost minimization
B. Has to forego one thing in order to have another
C. Can equate his fixed costs with his variable costs
D. Is able to run his business without much expenditure
E. Has to maximize utility in order to maintain a high standard of living

Question 4 :

• JAMB 1982

To calculate the annual natural growth rate of a country's population, one has to know the country's annual birth rate and

A. The size of that country
B. The rate of immigration into that country
C. The population census of that country
D. The annual death rate
E. The gross domestic product annual(GDP) of that country

Question 5 :

• JAMB 1982

We can classify the people of Nigeria into three broad age group :Group one, 0-15years ; Group Two,16-64years; Group Three, 65years and above. Group Two is the most important economically because

A. It is the dependent population of Nigeria, economically
B. All student in Nigeria are in this group
C. More than 50% of all Nigerians are in this group
D. It is the most expensive group of the economy
E. It is the productive group of the economy