JAMB Past Questions and Answers for Economics PDF Download 2023

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JAMB Past Questions and Answers for Economics PDF Download 2022

Our Jamb / UTME Past Questions and Answers For Economics are compiled from a large number of previous written exams administered by the Joint Admissions and Matriculation Board. The Joint Admission and Matriculation Board (JAMB) was originally known as the Joint Admission and Matriculation Examination (JAMB), but it is now known as the Unified Tertiary Matriculation Examination (UTME)

Exam preparation with past questions is usually beneficial. Past questions are useful for exam preparation because they give you practical insight into how the assessment body designs their exams, how the exam you’re prepared for might look, and what important themes or subject areas are likely to be covered. Teststreams brings you the official JAMB Economic Past Questions in a PDF format.

To do well in the JAMB literature exams, you must prepare thoroughly. This is why it is critical for JAMB exam applicants to practice with JAMB past questions. You can access the JAMB Economics past questions and answers here. 

Free Jamb Economics Past Questions (Sample Questions)

Below are Economics sample questions from the Joint Admissions and Matriculations Board UTME examination. This is just a preview of what the question looks like. 

In each of question, choose the option that rhymes with the given word.

Question one Division of labour requires that, the tasks in a production line be performed
A. by specialists
B. in stages
C. by all workers
D. by unskilled labourers

Question two Given that FC = ₦500, VC =
₦1,500, and Q = 50 units. Find the average cost of the product.
A. ₦30
B. ₦40
C. ₦10
D. ₦20

Question three Rent and administrative expenses are examples of
A. average fixed costs
B. average variable costs
C. fixed costs
D. variable costs

Question four A perfect competitor will continue to expand output up to the point where
A. TC > TR
B. MR = AR
C. MC < MR
D. MC > MR

Question five One of the characteristics of a monopolist is that, he can influence
A. quantity produced by other producers
B. prices charged by other producers
C. both price and quantity
D. price or quantity

Question six A monopolist can boost up his revenue by
A. adjusting both price and output upward
B. reducing total output to match price
C. increasing price
D. reducing price

Question seven Which of the following can be used to measure the Gross National product in an open economy?
A. C+I+G+(X+M)
B. C+I+G+X
C. C+I+G
D. C+I+G+(X-M)

Question eight If MPC = 2/3 and investment is ₦100 million, the level of national income is
A. ₦100 million
B. ₦10 million
C. ₦303 million
D. ₦300 million

Question nine The precautionary demand for money is determined by
A. the rate of interest
B. the level of savings
C. the level of income
D. general price level

Question ten An inflation that co-exists with high rate of unemployment is
A. hyperinflation
B. stagflation
C. demand-pull inflation
D. cost-push inflation

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