Economics 2012 Jamb Past Questions and Answers

Question 46 :

• JAMB 2012

If the GDP is N60 billion, what is the difference between the contributions of oil and manufacturing sectors?

A. N11.7 billion
B. N13.3 billion
C. N21.7 billion
D. N26.6 billion

Question 47 :

• JAMB 2012

From the above, calculate the price elasticity of demand

A. 5.0
B. 2.0
C. 1.0
D. 0.5

Question 48 :

• JAMB 2012

The consumer is at equilibrium at point

A. N
B. P
C. M
D. K

Question 49 :

• JAMB 2012

To move from point M to K, the consumer has to increase the

A. Consumption of X and reduce the consumption of Y
B. Expenditure on Y
C. Expenditure on X
D. Consumption of Y and reduce the consumption of X