Jamb Economics 2006 Past Questions and Answers

Question 21:

• JAMB 2006

A decision on input combination solves the economic problem of

A. How to produce
B. For whom to produce
C. When to produce
D. What to produce

Question 22:

• JAMB 2006

Choice involves opportunity cost because

A. Goods give different utilities
B. Available resources are inadequate
C. There are many goods to select from
D. Not all goods have the same price

Question 23:

• JAMB 2006

A characteristic common to partnership and sole proprietorship is

A. Limited liability
B. Accessibility to loan
C. Transferability of shares
D. Unlimited laibility

Question 24:

• JAMB 2006

Nigeria's exports usually comprise

A. Consumer goods
B. Capital goods
C. Intermediate goods
D. Primary goods

Question 25:

• JAMB 2006

Economic growth can be accelerated through

A. Excess current consumption
B. Excess consumption over investment
C. Increased current consumption
D. Increased current investment