Jamb Economics 2016 Past Questions and Answers

Question 11:

• JAMB 2016

The demand for two or more commodities to satisfy a particular want is _____?

A. Derived
B. Composite
C. Competitive
D. Joint

Question 12:

• JAMB 2016

The supply curve above is

A. Fairly inelastic
B. Perfectly inelastic
C. Unitary elastic
D. Perfectly elastic

Question 13:

• JAMB 2016

One of the factors affecting change in demand for a commodity is the _______?

A. Supply of the commodity
B. Availability of the substitutes
C. Price of the commodity
D. Technical know-how

Question 14:

• JAMB 2016

Public ownership of productive factors is a feature of_______?

A. Socialism
B. Capitalism
C. Feudalism
D. Mixed economy

Question 15:

• JAMB 2016

If the marginal propensity to save is 0.8, calculate the multiplier?

A. 1.25
B. 5.00
C. 1.30
D. 2.25