Jamb Economics 2017 Past Questions and Answers

Question 6:

• JAMB 2017

a formula used to calculate for ____________

A. Variance
B. The quartile
C. Standard deviation
D. Mean deviation

Question 7:

• JAMB 2017

Completely competitive market exist when each member is a

A. Price maker
B. Price taker
C. Price seeker
D. A and b

Question 8:

• JAMB 2017

Given a consumption function C = 10 + 0.6Y, determine the value of C if Y is 20

A. 36.60
B. 22.00
C. 30.60
D. 26.00

Question 9:

• JAMB 2017

A partnership sourcing for funds to expand its business would approach _______

A. A central bank
B. A money market
C. An insurance
D. A stock exchange

Question 10:

• JAMB 2017

Opportunity cost helps the government to:

A. Distribute money to citizens
B. Support better production
C. Remove competition
D. Prepare budget