JAMB Economics Past Questions (2012)
Prepare effectively for the JAMB UTME Economics exam with this comprehensive set of past questions from 2012. This resource provides essential practice for a wide array of economic topics, including economic systems, demand and supply, elasticity, national income accounting, market structures, and monetary policy.
About This Exam
Prepare effectively for the JAMB UTME Economics exam with this comprehensive set of past questions from 2012. This resource provides essential practice for a wide array of economic topics, including economic systems, demand and supply, elasticity, national income accounting, market structures, and monetary policy.
Topics Covered
Exam Structure
- Question Formatmcq
- Total Questions50
- Estimated Duration17 minutes
- Difficulty LevelMedium
Learning Objectives
- •Understand the principles of socialist economies and their disadvantages.
Prerequisites
A foundational understanding of basic economic principles and concepts is assumed.
Sample Questions
Get a taste of what to expect in the full exam.
The money that commands a higher market value than its face value is called
paper money
fiat money
commodity money
token money
A huge national debt is an indication gold reserves of a nation has
appreciated
decreased
depreciated
stagnated
A deficit balance of payments is measured by subtracting the debits fr the credits in the
current account
current and capital accounts
current and escrow accounts
capital and escrow accounts
The following are cash crops except
cassava
cotton
cocoa
soya beans
A sugar industry is best located near the source of
labour
raw materials
power
capital
The supply of cocoa is influenced by
seasonal conditions
the efficacy of fertilizer used
the demand for beverages
the availability of close substitutes
An important contribution of small-scale industries to the Nigerian economy is in the area of
technological development
foregin exchange earnings
raw materials processing
labour employment
If the GDP is N60 billion, what is the difference between the contributions and manufacturing sectors?
N11.7 billion
N13.3 billion
N21.7 billion
N26.6 billion
What is the change in income?
N0.5m
N1.5m
N2.6m
N8.0m
The long-run average cost curve touc to the short-run average cost curves
minimum points of all short run average cost curves
declining points of all short-run ave cost curves
minimum point of only one of the short-run cost curves
rising points of all short-run average cost curves
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How to Prepare
Key Preparation Tips
- Review each topic thoroughly before attempting the questions.
Mistakes to Avoid
- •Misinterpreting economic graphs and diagrams.
Success Criteria
Achieving a high score by correctly answering a significant majority of the questions, demonstrating a strong grasp of core economic concepts and their application.
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