Jamb Economics 2008 Past Questions and Answers

Question 1:

• JAMB 2008

The deregulation of telecommunication services in Nigeria is a characteristic of

A. Command economy
B. Traditional economy
C. Market economy
D. Feudal economy

Question 2:

• JAMB 2008

The deregulation of telecommunication services in Nigeria is a characteristic of

A. Command economy
B. Traditional economy
C. Market economy
D. Feudal economy

Question 3:

• JAMB 2008

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

Question 4:

• JAMB 2008

If the increase in the price of yams is used to estimate the inflation rate, this is an example of

A. Deductive reasoning
B. Inductive reasoning
C. Normative reasoning
D. Positive reasoning

Question 5:

• JAMB 2008

If the standard deviation of a given data is 8.2, find its variance

A. 4.1
B. 67.2
C. 82.0
D. 91.8