Jamb Economics Past Questions and Answers

Question 2031:

• JAMB 2011

The money paid per hour for work done is

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

Question 2032:

• JAMB 2011

The World Trade Organization is responsible for

A. Stabilizing and harmonization oil prices
B. Ensuring equal participation of countries in trade
C. Modernising world economies
D. Minimizing obstacles to international trade and investment

Question 2033:

• JAMB 2011

The graph of the schedule above will depict

A. A kinked demand curve
B. A normal demand curve
C. An abnormal demand curve
D. A diminishing marginal utility curve

Question 2034:

• JAMB 2011

From that table above, the price elasticity of supply is

A. 4
B. 25
C. 1
D. 2

Question 2035:

• JAMB 2011

From the Diagram above, the optimal point of production is

A. R
B. T
C. U
D. S