Economics as a science - Jamb Economics Past Questions and Answers

Question 11:

• JAMB 2019

The ultimate objectives of economics is to_________?

A. Decide under what circumstances that government should intervene in the economy
B. Organize production at the lowest cost
C. Make the best use of scarce resources
D. Make efforts to understands how the economy works

Question 12:

• JAMB 2017

Opportunity cost helps the government to:

A. Distribute money to citizens
B. Support better production
C. Remove competition
D. Prepare budget

Question 13:

• JAMB 2017

The economic questions about what and how to produce in an economy is solely answered by the _______?

A. Government
B. Labour union
C. Private and public enterpriser
D. System of economy practised

Question 14:

• JAMB 2016

The study of economics is necessary mainly because of

A. Unemployment
B. Unlimited resources
C. Scarcity of resources
D. Overpopulation

Question 15:

• JAMB 2015

The study of broad economic aggregates is

A. Macro economics
B. Deductive method of economic analysis
C. Micro economics
D. Inductive method of economics analysis