by Sunday | Oct 21 | Economics JAMB
A. Ensuring equitable distribution of income B. Liberalizing all sectors of the nation’s economy C. Encouraging the development of manufacturing sector D. Achieving self-sufficiency in food production Correct Answer: Option D – Achieving self-sufficiency...
by Sunday | Oct 20 | Economics JAMB
A. Elastic B. Unitary C. Inelastic D. Zero Correct Answer: Option C – Inelastic Explanation In case of perishable goods such as vegetables, fruits, and other eatables, the supply would be inelastic. This is because the supply of perishable goods cannot be...
by Sunday | Oct 20 | Economics JAMB
A. Galloping inflation B. Imported inflation C. Demand-pull inflation D. Cost-push inflation Correct Answer: Option C – Demand-pull inflation Explanation Demand-pull inflation arises when aggregate demand in an economy outpaces aggregate...
by Sunday | Oct 20 | Economics JAMB
A. The federal government B. Private and individual organizations C. The state government D. The federal and state governments Correct Answer: Option B – Private and individual organizations Explanation public limited company; A company whose securities are...
by Sunday | Oct 20 | Economics JAMB
A. Taxes, Fees, licenses and fines B. Personal income, disposable income and transfer earnings C. Interest, dividends, profits and earnings D. Grants, aids and borrowing Correct Answer: Option B = Personal income, disposable income and transfer earnings Explanation...
by Sunday | Oct 20 | Economics JAMB
A. 2.00 B. 0.50 C. 1.50 D. 1.00 Correct Answer: Option B – 0.50 Explanation Percentage change in price divided by % change in quantity supply 15.00-13.50=1.5 1.5 ÷13.50 x (100) =11.11% ÷ 20%= 0.1111 ÷ 0.2 0.55555.....