Scarcity - Jamb Economics Past Questions and Answers

Question 6:

• JAMB 2015

The source of all economic problems arises from

A. Wants
B. Scarcity
C. Opportunity Cost
D. Scale of Preference

Question 7:

• JAMB 1980

The fundamental problem of Economics is?

A. Money
B. Poverty
C. Unemployment
D. The scarcity of resources relative to wants
E. Inflation

Question 8:

• JAMB 1982

Economics is a science which deals basically with

A. The factors of production
B. Allocation of scarce resources
C. Oil exportation
D. The gross domestic product (GDP)
E. National income

Question 9:

• JAMB 1982

Economics is a science which deals basically with

A. The factors of production
B. Allocation of scarce resources
C. Oil exportation
D. The gross domestic product (GDP)
E. National income

Question 10:

• JAMB 1985

The inefficient distribution of scarce commodities in Nigeria is mostly due to the?

A. Inefficiency in the middlemen
B. Inefficiency in the production process
C. Long chain of the distribution system
D. Sovereignty of the consumers
E. Ineffectiveness of retailers