Jamb Economics 2022 Past Questions and Answers

Question 36:

• JAMB 2022

Which of the following forms of economic integration is a member nation free to impose duty against non-members

A. Customs union
B. Free trade area
C. Common market
D. Economic community

Question 37:

• JAMB 2022

The pie chart above represent the total population of a school of 1,200. The shaded area of 60∘ shows the population of the underaged pupils.

What is the population of the matured students?

A. 600
B. 800
C. 1000
D. 1200

Question 38:

• JAMB 2022

What type of price elasticity of demand is the diagram above representing?

A. Perfectly inelastic demand
B. Perfectly elastic demand
C. Fairly elastic demand
D. Composite demand

Question 39:

• JAMB 2022

The curve labelled x is the

A. Total revenue curve
B. Total product curve
C. Marginal product curve
D. Marginal revenue curve

Question 40:

• JAMB 2022

The line labelled M in the diagram above represent

A. Total cost
B. Fixed cost
C. Variable cost
D. Average cost