Jamb Economics Past Questions For Year 2018
Question 1
The privatization of public enterprises will lead to the efficient management of resources in the economy. This statement can best be described as_____________
- A. deductive reasoning
- B. positive reasoning
- C. normative reasoning
- D. inductive reasoning
Question 2
The ultimate objectives of economics is to_________?
- A. decide under what circumstances that government should intervene in the economy
- B. Organize production at the lowest cost
- C. Make the best use of scarce resources
- D. make efforts to understands how the economy works
Question 3
If the standard deviation of a given data is 8.2, find its variance_______________
- A. 82.0
- B. 91.8
- C. 67.2
- D. 4.1
Question 4
Commercial bank reserves at the Central Bank____________
- A. advancing trade, prospects
- B. controlling credit and money supply
- C. reducing bank frauds
- D. discouraging banking operations
Question 5
In the long run, all production factors are____________
- A. variable
- B. fixed
- C. semi-variable
- D. semi-fixed
