Jamb Economics Past Questions and Answers

Question 141:

• JAMB 2019

The money paid per hour for work done is_________

A. Cost
B. Salary
C. Bonus
D. Wage rate

Question 142:

• JAMB 2019

From the graph above the consumer will attain equilibrium at point_______________

A. J
B. K
C. M
D. L

Question 143:

• JAMB 2019

By utility we mean____________

A. Beneficial
B. Power of satisfying a want
C. Advantageous
D. Consumable

Question 144:

• JAMB 2019

Concentrating industries in one place is advantageous because there are gains in terms of_____________

A. Cost economies
B. Economies of scale
C. Internal economies
D. External economies

Question 145:

• JAMB 2019

The effects on the demand for product A caused by a change in the price of product B is Called____________

A. Joint demand
B. Cross-elasticity of demand
C. Elasticity of supply
D. Competitive demand