Jamb Economics 2002 Past Questions and Answers

Question 6:

• JAMB 2002

One of the reason for an exceptional demand curve is the?

A. Expectation of a future change in price
B. Availability of credit facilities
C. Change in the price of the commodity
D. Availability of substitutes

Question 7:

• JAMB 2002

A scientific approach in economic analysis entails?

A. A deductive method only
B. Both inductive and normative methods
C. A normative method only
D. Both inductive and deductive methods

Question 8:

• JAMB 2002

In a centrally planned economy, the economic problem of deciding what to produce is dependent on?

A. Average profit
B. State command
C. Average cost
D. Relative prices

Question 9:

• JAMB 2002

The solution to the problem of double coincidence of wants requires a buyer and seller whose demands are precisely?

A. Competitve
B. Composite
C. Supplementary
D. Complementary

Question 10:

• JAMB 2002

The stock exchange is a market for the buying and selling of?

A. Monetary instruments
B. New shares
C. Existing shares
D. Treasury bills