40 Attainable JAMB Economics Questions and Solutions 2025
Economics JAMB Questions and Solutions 2025 Revealed!
As a candidate getting ready for the Economics paper within the 2025 JAMB examination, it’s essential to have an thought of the kinds of questions you’re prone to encounter. This won’t solely show you how to put together higher but in addition enhance your confidence and enhance your probabilities of scoring excessive marks within the examination.
To this finish, we now have compiled a listing of Economics JAMB Questions and Solutions 2023 so that you can overview. These questions are real and the solutions supplied are correct, guaranteeing that you’ve got the absolute best preparation to your JAMB examination.
It is very important be aware that JAMB is a really critical examination, and you may be required to reply 40 questions inside 26 minutes. Subsequently, it’s essential to pay shut consideration to the knowledge supplied on this web page.
As you overview the questions and solutions, be happy to make use of the feedback part to hunt clarification on any areas that could be unclear. We’re devoted to offering detailed explanations that can assist you absolutely perceive every query.
By taking the time to overview these Economics JAMB Questions and Solutions 2023, you may be higher outfitted to deal with any query that comes your method on the day of the examination. This won’t solely provide you with a better probability of success but in addition show you how to safe admission into the establishment of your alternative.
Economics JAMB Questions and Solutions 2025[Numbers 1 – 10]
1. Inflation is prone to profit
A. Debtors
B. Individuals with again financial savings
C. Collectors
D. Individuals who lived on mounted pension funds
2. Below the ECOWAS settlement, a Nigerian can enter and keep in Ghana and not using a Visa for a interval of
A. 100 days B. 30 days
C. 90 days D. 14 days
3. The form of a manufacturing frontiers is decided by
A. the rising relative prices
B. returns to scale
C. diminishing returns to a set issue
D. rising returns to a variable issue
4. A central argument of cardinal utility is
A. measurable B. psychological
C. exterior elements D. inner elements
5. If a complete price curve is plotted, marginal price will be illustrated by the
A. slope of tangent to the curve at any given level
B. U-shaped curve reducing the full price curve at its lowest level
C. straight line from the origin to the mid-point of the curve
D. straight line reducing the curve at its highest level
6. One of many causes for an exception demand curve is the
A. expectation of future change in value
B. availability of credit score amenities
C. change in value of commodity
D. availability of substitutes
7. Brief-run interval in manufacturing is a interval too quick for a agency to have the ability to change its
A. scale of manufacturing B. complete income
C. variable inputs D. complete outputs
8. Below a floating change charge regime, the determinant of the change charge is
A. an Act of Nationwide Meeting
B. the very best denomination of the foreign money
C. demand for and provide of overseas items
D. the system of presidency
9. As a way to enhance income, the vendor of a commodity whose demand is elastic is suggested to
A. enhance value B. cut back output
C. cut back value D. retain value
10. An establishment that regulates commerce relations amongst members is the
A. ADB B. OPEC
C. EU D. IMF
Solutions to Economics Query No 1 – 10
1.A 2.C 3.A 4.A 5.A
6.A 7.A 8.C 9.C 10.C
Economics JAMB Questions and Solutions 2023 [Numbers 11 – 20]
11. A choice on enter mixture solves the financial issues of
A. the way to produce B. for whom to supply
C. when to supply D. what to supply
12. If the short-run price of a agency is U-shaped, the marginal and common prices are equal the place the
A. common variable price is minimal
B. marginal price is falling
C. common price is minimal
D. common mounted price is falling
13. Correction within the GNP figures for value modifications require using a
A. value deflator B. value index
C. retail value index D. producer value index
14. The positive factors from worldwide commerce are shared on the premise of the
A. amount produced of every of the traded items
B. price of manufacturing of every of the traded items
C. phrases of commerce
D. bilateral commerce agreements
15. The labour pressure of a rustic greatest describes
A. the variety of folks in paid employment
B. the variety of folks receiving pension
C. folks throughout the retirement age
D. folks throughout the working age
16. The output method to the measuring nationwide earnings relies on the computation of
A. remaining output B. issue price
C. worth added D. income earned
17. A excessive hire on land will have an effect on the price of producing maize
A. positively
B. negatively
C. at early stage of manufacturing
D. on the later stage of manufacturing
18. If the marginal utility of excellent X exceeds that of excellent Y, this means that
A. a rational shopper will purchase much less of X
B. consuming extra of X will enhance complete utility
C. Y is an inferior good
D. X shall be cheaper than Y
19. The imply is the perfect measure of central tendency as a result of it
A. is just not affected by excessive values in an information
B. is a midpoint worth in an array of knowledge
C. is a balancing level in an remark
D. will be calculated from incomplete information
20. A central argument of cardinal utility is
A. measurable B. psychological
C. exterior elements D. inner elements
Solutions to Economics Query Quantity 11 – 20
11.A 12.A 13.A 14.C 15.D
16.A 17.B 18.B 19.A 20.A
Economics JAMB Questions and Solutions 2023 [Numbers 21 – 30]
21. Probably the most dependable and acceptable index of financial development is the
A. Wholesale Value Index
B. Shopper Value Index
C. Nationwide Earnings
D. Retailer’s Value Index
22. The amount equipped of a commodity will increase greatest when
A. Manufacturing will increase
B. Demand will increase
C. Value of the commodity will increase
D. Inhabitants of the nation will increase
23. Manufacturing in Economics happens when
A. a commodity or service is bought
B. utility is created or added
C. a commodity is manufactured
D. uncooked supplies are produced or extracted from mines
E. all of those
24. Which of the next is NOT one of many steadiness of cost entries?
A. the present account
B. overseas change
C. Import and Export duties
D. Brief-term capital
25. Probably the most primary concern of economists is to
A. fulfill all human need
B. redistribute earnings in order that it’s used appropriately
C. create excellent competitors
D. examine methods of allocating scarce assets so as to fulfill human desires
26. Which of the next is NOT included in measuring nationwide earnings by the earnings method?
A. Wages and salaries of public servant
B. pupil grants and scholarship
C. Revenue of firms
D. earnings earned by self employed individuals resembling attorneys
E. Rents on property
27. An imperfectly aggressive market is one the place
A. numerous companies promote homogenous merchandise
B. enter and output costs are unaffected
C. every agency faces a horizontal demand curve
D. every agency maximizes revenue by choosing an output degree at
E. commodities are differentiated
28. A agency is at its optimum measurement when
A. it produce the best output at a minimal price
B. it has a motive to extend output
C. marginal price equals marginal income
D. marginal price is lower than marginal income
29. Tax incidence is the evaluation of
A. how progressive a tax is
B. how a tax is collected
C. how distorting a tax is
D. who finally pays the tax
30. A shift within the manufacturing chance frontier might outcome from
A. unemployment
B. modifications within the mixture of products produced
C. inflation
D. modifications in manufacturing strategies
Solutions to Economics Query Quantity 21 – 30
21.C 22.C 23.E 24.B 25.D
26.B 27.E 28.A 29.D 30.D
Economics JAMB Questions and Solutions 2023 [Numbers 31 – 40]
31. Capital supplied by people to the agency by buying shares is known as?
A. debt capital B. mounted capital
C. circulating capital D. fairness capital
32. A attribute of a debenture is that?
A. its yield relies on income
B. its yield is a set charge of curiosity
C. it has no redemption date
D. there’s a voting proper when curiosity is paid
33. The principle goal of the Financial Group of West African State is to
A. set up a West African Growth Financial institution
B. create a West African military
C. introduce a standard foreign money for the sub-region
D. promote the free motion of individuals, items and providers throughout the sub-region
34. A rise within the low cost charge is a sign of a central financial institution’s intention to pursue?
A. an expansionary financial coverage
B. a disciplined financial coverage
C. a dynamic financial coverage
D. a contractionary financial coverage
35. The technical relationship between enter mixture and most attainable output is known as
A. an isocost B. an indifference curve
C. an isoquant D. a manufacturing operate
36. A reduction home is a market the place
A. short-term and medium-term loans are obtained
B. short-term loans are obtained
C. shares are purchased and bought
D. varied payments are exchanged
37. The first operate of non-bank monetary establishments is to
A. grant loans to banks
B. handle funding portfolios for presidency
C. mobilize financial savings for funding
D. obtain deposits from banks
38. A big customary deviation is a sign of
A. a large unfold across the imply
B. the distinction between the very best and the bottom values
C. a large distinction between the imply and the mode
D. the scale of the pattern
39. If Nigeria’s composite value index in 1999 was 140.03% and 144.05% in 2000, the speed of inflation in 2000 was
A. 1.03% B. 4.02%
C. 2.10% D. 2.87%
40. The Malthusian idea of inhabitants development is usually mentioned to be
A. pessimistic B. optimistic
C. over-simplified D. ambiguous
Solutions to Economics Query Quantity 31 – 40
31.D 32.B 33.D 34.A 35.D
36.D 37.C 38.A 39.D 40.A
Conclusion
So right here you’ve the 40 Economics Questions you possibly can count on in your 2023 JAMB examination. Learn them time and again. Be certain that you get very conversant in every of them such that you would be able to readily acknowledge them any time.
