Jamb Economics Past Questions For Year 1999
Question 6
In the table, the income elasticity of clothing is
- A. 0.5
- B. 2.0
- C. 2.5
- D. 5.0.l
Question 7
Calculate the total number of people engaged in tertiary production from the data above
- A. 5,000,000
- B. 6,250,000
- C. 11,750,000
- D. 12,250,000
Question 8
In a firm, three employees earns N5,500 each, four earn N3,300 each, two earns N5,000 each and one earn N7,000. The mean income of the employees is?
- A. N5,200
- B. N 4,760
- C. N4,670
- D. N2,080
Question 9
A capitalist economy is one characterized by the?
- A. private ownership of factors of production
- B. ownership of factors of production by rich members of the society
- C. use of capital and labour in fixed proportions during production
- D. use of capital intensive methods of production
Question 10
The determinants of elasticity include?
- A. price, time and availability of alternatives
- B. technology and cost of production
- C. time and availability of alternatives
- D. price, time and technology changes
