Economics as a science - Jamb Economics Past Questions and Answers

Question 91:

• JAMB 2009

Musa has a choice of buying a shirt, a book and a bag. What is the opportunity cost of buying a book?

A. A bag only
B. A book and a bag
C. A shirit and a bag
D. A shirit only

Question 92:

• JAMB 2010

Economics is the study of human behaviour as it relates to the

A. Efficient allocation of resources
B. Production of goods
C. Operation of companies
D. Generation of income

Question 93:

• JAMB 2010

Economics is the study of human behaviour as it relates to the

A. Efficient allocation of resources
B. Production of goods
C. Operation of companies
D. Generation of income

Question 94:

• JAMB 2010

The choice of the method of production in an economy is determined by the

A. Level of technical know-how
B. Rate of propulation growth
C. Availability of natural resources
D. Level of income

Question 95:

• JAMB 2020

Scarcity in economics means?

A. Human wants are limitless
B. The economy has very few resources
C. The economy can scarcely produce anything
D. Resources are limited in relation to wants