Jamb Economics Past Questions For Year 2008
Question 1
Use the information below to answer this question.
Given that Q d = 20 - 4P and Qs = 6P + 12
If price is increased to N3, how much is the excess supply?
- A. 30
- B. 22
- C. 12
- D. 8
Question 2
Use the information below to answer this question.
Given that Q d = 20 - 4P and Q = 6P + 12
Determine the equilibrium quantity
- A. 14.2
- B. 16.8
- C. 20.8
- D. 30.2
Question 3
Use the data below to answer this questions
54, 36, 62, 79, 83, 36, 62, 42, 62, and 42.
What is the modal score?
- A. 36
- B. 42
- C. 54
- D. 62
Question 4
Use the data below to answer this questions
54, 36, 62, 79, 83, 36, 62, 42, 62, and 42.
Calculate the mean?
- A. 45.5
- B. 55.6
- C. 55.8
- D. 65.8
Question 5
Individual markets differ from each other according to
- A. The degree of competition
- B. The volume of trade
- C. The number of buyers
- D. It's composition
