Jamb Economics Past Questions and Answers

Question 2186:

• JAMB 2021

The price mechanism ____________

A. Rations the consumers
B. Rewards the producers
C. Regulates supply and demand
D. Allocates scarce resources.

Question 2187:

• JAMB 2021

If the price of a commodity falls and the quantity purchased does not rise, the commodity can be described as ____________

A. Scarce
B. Normal
C. Superior.
D. Inferior

Question 2188:

• JAMB 2021

An economic problem arises when ____________

A. Sellers are few
B. Scarcity and choices are involved
C. Buyers are many
D. Money is in short supply

Question 2189:

• JAMB 2021

Which of these is not a cause of high population growth in Nigeria?

A. Improved hygiene
B. Reduction in death rate
C. Family planning unit of Nigeria
D. Increased birth rate

Question 2190:

• JAMB 2021

Inflation can be curbed by ____________

A. Deficit budget
B. Paying higher wages
C. Increased aggregate demand
D. Reducing aggregate demand