Economic problems - Jamb Economics Past Questions and Answers

Question 21:

• JAMB 2010

Economics is the study of human behaviour as it relates to the

A. Efficient allocation of resources
B. Production of goods
C. Operation of companies
D. Generation of income

Question 22:

• JAMB 2010

The choice of the method of production in an economy is determined by the

A. Level of technical know-how
B. Rate of propulation growth
C. Availability of natural resources
D. Level of income

Question 23:

• 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