Mixed economy - Jamb Economics Past Questions and Answers

Question 1:

• JAMB 2019

A demand which gives rise to the reverse of the law of demand is__________

A. Derived demand
B. Joint demand
C. Abnormal demand
D. Composite demand

Question 2:

• JAMB 2019

An economy in which both the public and private sectors contribute to economic growth is a__________?

A. Socialist economy
B. Feudal economy
C. Mixed economy
D. Capitalist economy

Question 3:

• JAMB 1981

An economy in which both the public and the private sectors contribute substantially to the growth of output is?

A. A socialist economy
B. A capitalist economy
C. A mixed economy
D. An industrial economy
E. A peasant economy

Question 4:

• JAMB 1986

Which of the following statements describes a mixed economy?

A. The government and the private sector interact in solving the basic economic problems
B. The invisible hand solves the basic economic problems
C. The government produces and distributes all goods and services
D. Society answers the 'what', 'how', and 'for whom' questions only through the market system

Question 5:

• JAMB 1994

In a mixed economy, decisions to produce are taken by?

A. Men and women acting in their own best interest
B. The government acting in the interest of the country
C. The market women, the labour unions and the employers association
D. Private individuals, organization and the government