Jamb Economics 1990 Past Questions and Answers

Question 1:

• JAMB 1990

If one orange costs 20k and one kilogram of beef costs N10.00, the opportunity cost of one kilogram of beef is?

A. 50 oranges
B. 10 oranges
C. 5 oranges
D. 9.80

Question 2:

• JAMB 1990

If one orange costs 20k and one kilogram of beef costs N10.00, the opportunity cost of one kilogram of beef is?

A. 50 oranges
B. 10 oranges
C. 5 oranges
D. 9.80

Question 3:

• JAMB 1990

In economic life, choice among alternatives depends on the?

A. Income of the decision maker
B. Scarcity of resources
C. Scale of preference of the decision maker
D. Status of the decision maker

Question 4:

• JAMB 1990

One of the major advantages of specialization is that?

A. The worker becomes a tenderer of machines
B. It causes more employment of labour
C. Less machinery is required for production
D. The worker wastes less time between operations

Question 5:

• JAMB 1990

Which of following rewards is associated with entrepreneurship as a factor of production?

A. Salaries
B. Profit
C. Interests
D. Rents