Jamb Economics 2019 Past Questions and Answers

Question 111:

• JAMB 2019

The ultimate objectives of economics is to_________?

A. Decide under what circumstances that government should intervene in the economy
B. Organize production at the lowest cost
C. Make the best use of scarce resources
D. Make efforts to understands how the economy works

Question 112:

• JAMB 2019

The savings deposit in a commercial bank is called____________?

A. Near money
B. Call money
C. Capital
D. Fund

Question 113:

• JAMB 2019

A major determinant of the demand for a luxury good is____________?

A. The price of other goods
B. The price of the good
C. Tastes and fashion
D. The income of consumers

Question 114:

• JAMB 2019

When a variable is associated with time period, it is_____________

A. Circular
B. A flow
C. Static
D. A stock

Question 115:

• JAMB 2019

The factor of production that has the highest degree of mobility is__________?

A. Entrepreneurship
B. Land
C. Labour
D. Capital