2018 JAMB CBT ECONOMICS 3PM QUESTIONS AND ANSWERS

ECONOMICS – 3PM

1 :-
the effect of an expansionary monetary system above full employment level is a 
CORRECT ANSWER = rise in the inflation rate
2 :- the maimumum amount of money a company is allowed to raise b issuing shares to the public is 
CORRECT ANSWER = authorised capital
3 :- the value of money will apppreciate if 
CORRECT ANSWER = price decrease
4 :- in noigeria ,government can ensure continos supply of agricultural produce in al the seasons by 
CORRECT ANSWER = provide adequate and efficient storage facilities
5 :- from the above table calculat the ccoefficient of elasticity of demand 
CORRECT ANSWER = 0.75
6 :- the reduction of high fertility rate is a measure of population control designed 
CORRECT ANSWER = make growth I population
8 :- capital accumulation for low income earners is btter done through 
CORRECT ANSWER = credit and thrift societies
9 :- the government of nigeria can conserve foreign exchange by 
CORRECT ANSWER = restricting import through imprt quotas
10 :- the minimum number of persons who are legally allowed to operate in a partnership business is between 
CORRECT ANSWER = 2 and 20
11 :- from the above diagram,given the existing resources in the economy,a movement from h o f will lead to the production 
CORRECT ANSWER = more cotton and less coal
12 :- gnp is not a good measure of social welfare because they are unrecorded 
CORRECT ANSWER = transfer payment
13 :- one of the major goals of opec is to 
CORRECT ANSWER = ensure that quota production is strictly followed
14 :- one of the factors considered in the determinant of wages is 
CORRECT ANSWER = the rise involved I n an occupation
15 :- if government expenditure exceeds its revenue,this will give rise to a 
CORRECT ANSWER = budget deficit
16 :- from the above diagram at which point is the total utility higher 
CORRECT ANSWER = f
17 :- the demand curve for a firm operating u nder perfect competition is 
CORRECT ANSWER = perfectly elastic
18 :- terms of trade is expressed as the 
CORRECT ANSWER = rate at which export are exchanged for import
19 :- from the above what is the mean of ghe distribution 
CORRECT ANSWER = 16
20 :- the typical feature of a market economy is that 
CORRECT ANSWER = consumer soverignty exists
21 :- given that qd=40-4p and qs=12p=24,determine the equillibrum price 
CORRECT ANSWER = 1 naira
22 :- petro chemical industries are located in the river state of nigeria because of 
CORRECT ANSWER = crude oil deposit
23 :- in an imperfect market the monopolist can influence 
CORRECT ANSWER = price and quality
24 :- from the above table,the medium of the distribution is 
CORRECT ANSWER = 18
25 :- in the production process,the law of diminishing returns begins to set in when 
CORRECT ANSWER = marginal product begins to fall
26 :- the most unique quality of money is its 
CORRECT ANSWER = acceptability
27 :- the u shaped of the long run average cost curve is explained by 
CORRECT ANSWER = increasing return
28 :- in nigeria import substitution industralization strategy is faced with the problem of 
CORRECT ANSWER = over dependence on imported component
29 :- from the above table,the mode of distribution is 
CORRECT ANSWER = 0
30 :- a cosmetic dealer sourcing for cpital to expand his business will approach 
CORRECT ANSWER = bank of industry
31 :- freom the above diagram,the movement from point n to point m implies that 
CORRECT ANSWER = more of commodity x is consumed than that of of commodity y
32 :- one of yhe advantages of using labour intensive strategy of production is that if 
CORRECT ANSWER = provides more employment opportunities
33 :- a business organisation in wich thwere is limitation to the amount of loses a shareholder can sustain in the event of business by law is 
CORRECT ANSWER = limited liability company
34 :- rural-urban migraytion is influenced by 
CORRECT ANSWER = the availability of employment opportunities
35 :- fram the above diagram the supply curve for agricultural products is illustrated by 
CORRECT ANSWER = 1
36 :- the demand curve for a perfectly competitive firm is 
CORRECT ANSWER = INFINITELY ELASTIC
37 :- which of yhe following is a direct tax 
CORRECT ANSWER = PROPERTY TAX
38 :- froam the above graph,the equillibrum price and quantity is represented at points 
CORRECT ANSWER = POQO
39 :- the most important determinant in the supply of agricultural products is 
CORRECT ANSWER = WEATHER
40 :- the marginal propensity to consume measures the relationship between 
CORRECT ANSWER = CHANGE IN INCOME AND CHANGE I N CONSUMPTION

22 Comments

  1. I’m happy with you guys, please help me out, I need English, Economics, Government, CRS, please I am writing tomorrow Saturday by 1:30pm

  2. I’m happy with you guys, please help me out, I need English, Economics, Government, CRS, please I am writing on monday by 1:30p

  3. Hy pls I will b writing on Monday 7am I will like to get maths,eng ,econs & commerce can’t see commerce here thanks a lot

  4. Hey thanks so much for the hardwork guys .I was just wandering when you guys are going to post Maths,English,economic and crs on Monday 12 by 7:00Am

  5. Pls Am B Writen Tomorow Teusday Day4 13- March, 2018 By 9:00am, I Want U 2 Post De Question Nd Answer In Mid Night.
    My Subjects Are:
    English, Government, Maths Nd Economics.

  6. Please am writing tomorrow wnday I need ur help English, economic, government, lit-in-english Hw can I get d answer this night

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