Economics As A Science - Economics Jamb Past Questions and Answers

Question 51 :

• JAMB 1990

If one orange costs 20k and one kilogram of beef costs N10.00, the opportunity cost of one kilogram of beef is?

A. 50 oranges
B. 10 oranges
C. 5 oranges
D. 9.80

Question 52 :

• JAMB 1990

If one orange costs 20k and one kilogram of beef costs N10.00, the opportunity cost of one kilogram of beef is?

A. 50 oranges
B. 10 oranges
C. 5 oranges
D. 9.80

Question 53 :

• JAMB 1990

In economic life, choice among alternatives depends on the?

A. Income of the decision maker
B. Scarcity of resources
C. Scale of preference of the decision maker
D. Status of the decision maker

Question 54 :

• JAMB 1991

Economic goods are termed scarce goods when they are?

A. Not available in sufficient quantities to satisfy all wants for them
B. Not produced in sufficient quantities to satisfy the effefctive demand for them
C. Of high quality
D. Of primary importance in satisfying the needs of a society

Question 55 :

• JAMB 1991

A school girl who needs a book and mirror, each coasting five naira, decides to purchase the book instead of the mirror since she cannot pay for the two at the same time. Determined the real cost of her book.

A. The five naira she spent on the book
B. Five naira real cash value
C. The mirror
D. The book