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30 Economics Possible/Likely JAMB 2017 Questions 

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2017 JAMB ECONOMICS LIKELY/POSSIBLE

QUESTIONS AND ANSWERS FOR STUDENTS

1.Government’s involvement in agricultural business

in Nigeria is most manifested in the

a. formation of farmer’s cooperative society

b. establishment of farm settlements in each state of

the federation

c. procurement and distribution of fertilizers

d. establishment of credit guarantee schemes for

small-scale farmers

2. The European union was formed to

a. assist countries to achieve their economic goals

b. promote free trade within member nations

c. finance development projects in member nations

d. promote economic integration in non-member

countries

3. A black market can occur when

a. prices are set by government below the equilibrium

b. supply in excess demand

c. consumption of the commodity is restricted

d. prices are set by government above the equilibrium

4. In a textile factory, the cost of cotton used is a

typical example of

a. total cost

b. a variable cost

c. an average cost

d. a fixed cost

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5. Given a base year and price index of 175% the

following year Which of the following will arise.

a. the value of money falls by 75%

b. the value of money rise by 75%

c. the cost of living decrease in that year

d. the cost leaving remains unchanged

6. The choice of how to produce in a command

economy is determined by

a. labour uniouns

b. industrialists

c. government

d. consumers

7. An inflation that co-exists with high rate of

unemployment is

a. cost-push inflation

b. demand-pull inflation

c. hyperinflation

d. stagflation

8. Given that Qd =40-2p and Qs=6p+24, Calculate the

equilibrium price.

a. #16

b.#36

ALSO READ: 50 POSIBLE QUESTIONS IN JAMB 2017 c.#4

d.#2

9. One of the characteristics of a monopolist is that, he

can influence?

A. price or quantity

b. both price and quantity

c. quantity produced by other producers

d. prices charged by other producers

10. The main objective of WTO is to

a. assist developing countries to execute

developmental project

b. assist countries with chronic balance of payments

problem

c. ensure adequate protection for infant industry

d. provide a mechanism for tariff reduction.

30 Economics Possible/Likely JAMB 2017 Questions 

11. A monopolist can bloat revenue by

a. reducing price

b. increasing price

c. adjusting both price and output upward

d. reducing total output to march the price

12. A perfect competitor will continue to expand

output up to the point where?

a. MC>MR

b. MC

c. TC>TR

d. MR=AR

13. If the importation of a commodity is limited to a

definite quantity, the trade control measure imposed

is?

a. tariff

b. quotas

c. excise duties

d. import duties

14. The best measure of dispersion to determine the

tallest tree in a forest is

a. mean deviation

b. standard deviation

c. range

d. variance

15.Firms embark on vertical integration inorder to?

a. enjoy economies of large scale productions

b. reduce advertisement and marketing cost

c. takeover markets formally controlled by other firms

d. prevent other firm from entry the market.

16. A change in demand for a normal good implies

that, there is a?

a. change in the price elasticity of demand

b. movement along a given demand curve

c. change in the quantity demanded as price change

d. shift in the demand curve.

17. Given the supply function P=1/4 [Qs+10] and

P=#10. What is Qs?

a. 30

b.50

c.20

d.15

18. Short terms loans for investment are usually

obtained through the

a. capital market

b. money market

c. stock market

d. development bank

19. The major determination of a floating exchange

rate is

a. the forces of demand and supply

b. the system of government

c. the highest denomination of a currency

d. an act of the parliament.

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New Music – The Explosive DJ ATTE one of Africa’s finest disc jockeys repping Naija FM, 102.7, Lagos and MTV Bigger Friday Show teams up with the “if I get money eh” and “penalty” “Kill Mosquito” croonersMagnito and Small Doctor to produce the afro hip hop street jam “dance if you want”.  The track was produced by HeartBeatPro (Lagos based whiz kid producer) mix and mastered by K. Kenny.
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Talented Nigerian singer, Chinyere has released a brand new groovy song titled ”Goodness’.


”Goodness is a song God gave to me in my prayer time… Thinking about how faithful and merciful He has been, I got to understand that if we can THINK, we can actually THANK…

In my doubts He was GOOD, in my shortcomings He was GOOD. Counting his miraculous works, my mouth can’t tell it all”. –
CHINYERE
Be blessed with this song!
#Highlife

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Lyrics
.
Verse 1

If I no work how I go chop ?

If I no pray tell me where I for dey?

If I no thank am o know I’m so ungrateful ..my God e good o eh eh eee

Jehovah Nissi o you are worthy worthy worthy

Every living soul come on praise the lord he is Alpha and Omega

E get e power to put down all asunder eh eh

My God e good o eh eh eee eh

Chorus

You are good your mercy is forever oo

Resp: Goodness and mercy just dey follow me

You are good and your mercy is forever eh eh

Resp: Goodness and mercy just dey follow me

Verse 2

If I no trust am o tell me who to trust

Cos wetin my God dey do for me e Better pass money eh

E get eee power to pull down all asunder eh eh eh My God e good o my God e good

(Repeat chorus)

Refrain ”

Eh eh eh oya na 1 2 3 obuligwum elu Aka chi

Oya na 1 2 3 the blessings of the lord na Egwueji 2x

Back to chorus

You are good o your mercy is for ever eh eh

Resp: goodness ,mercy just dey follow me

When I think about your love and grace makes me wonder wonder wonder

Resp : Goodness, mercy just dey follow me

If I start to count count count count count count

Resp: goodness mercy just dey follow me

Eh eh follow follow follow.. Follow follow follow… Follow follow follow just dey follow me

Oya na 123 obuligwum elu akachi

Emmy Chuks pours out his soul and faith in God’s constant ability in a brand new single single titled ‘ Never Change ‘. The Timi Toba produced track is a song that draws the encouragement you need to keep trusting God as the Unfailing Father.

“ Hold on a while and be assured that He is always there in all phases and NEVER CHANGES. Keep trusting God ~ Emmy Chuks “

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Soulful singer and worship leader, Oludrey Dare, releases his first musical work of 2017 titled IGWE, a mellow melodious tune that catches listeners fast and connects them to praise the King of kings.


He features another amazing singer Victor Praise as the duo blend seamlessly to deliver this awesome melody.

                     click to download free

Amazing female duo, SPARKLES follows-up hit single IRREPLACEABLE with a brand new groovy jam titled Holy Ghost Party . ‘Holy Ghost Party’ is an expression of the presence of the holy spirit in ones life, it will make u praise, jump, dance, celebrate, and so much more.

The upbeat track produced by KI, features a fine blend a electro fused with african element

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Young  handy is one  of the youngest beat burner and he is here again  with  a song he title my story  line  it's not just a song but a life  touching   story .

These can even Change your life for good and u will  reach to the  maximum  height  of life..



..  Click  below  to download  and listen  to it click to download free