by Sunday | Oct 19 | Economics JAMB
A. High tax rate B. Technology development C. High gross domestic product D. High-interest rate Correct Answer: Option C – High gross domestic product Explanation Economic growth is the process by which the productive capacity of an economy increases over a...
by Sunday | Oct 19 | Economics JAMB
A. that production is inefficient B. that demand is relatively inelastic C. that production is unattainable D. the law of increasing marginal cost Correct Answer: Option A = that production is inefficient Explanation Production possibility curve (PPC) shows the...
by Sunday | Oct 19 | Economics JAMB
A. favourable soil B. coal deposit C. crude oil deposit D. favourable climate Correct Answer: Option C = crude oil deposit Explanation Many Nigerians perceive the Niger Delta as synonymous with the oil-producing areas of Nigeria. In other words, the Niger Delta...
by Sunday | Oct 19 | Economics JAMB
A. Expenditure method B. Consumption method C. Input Method D. Output method Correct Answer: Option B – Consumption method
by Sunday | Oct 19 | Economics JAMB
A. government B. labour union C. private and public enterpriser D. system of economy practiced Correct Answer: Option D – system of economy practiced Explanation Every society answers the three basic economic questions differently, in doing so, each confronts...