Positive And Normative Reasoning Jamb Economics Past Questions
Question 1
In economic life, the choice among alternatives depends on the?
- A. income of the decision maker
- B. scarcity of resources
- C. the scale of preference of the decision-maker
- D. status of the decison maker
Question 2
| X | 2 | 3 | 4 | 5 |
| F | 2 | 5 | 2 | 1 |
- A. 5
- B. 4
- C. 3
- D. 2
Question 3
The above diagram showing the maximum possible combination of commodities X and Y produced in Nigeria is called the
- A. Production indicator
- B. Maximum production curve
- C. Production possibility curve
- D. Total output curve
Question 5
The sign of the slope of a graph in economic analysis is important because it
- A. shows whether a good is normal or inferior
- B. shows the relationship between variables
- C. reveals the magnitude of the change between variables
- D. helps to determine the unit of measurement of variables
