Ads: Get Admission into 200 Level and Study any Course in any University of Your Choice. Low Fees | No JAMB UTME. Call 09038456231

JAMB Economics Questions 2020 | Check Economics Random Repeated Questions Here

Filed in Exam, Jamb News, Past Questions by on January 14, 2020


JAMB Economics Questions 2020 | Check Economics Random Repeated Questions Here.

Joint Admissions and Matriculation Board, JAMB Economics, JAMB Economics Questions, JAMB Economics Questions 2020 | In this examination guide, I will be showing you past JAMB Economics random repeated questions for free. You will understand how JAMB Economics questions are set and many other examination details.

The Joint Admissions and Matriculations Board (JAMB) is a Nigerian entrance examination board for tertiary-level institutions. The board conducts entrance examinations for prospective undergraduates into Nigerian universities.

JAMB Economics Questions 2018


1. The price of a good rises from N5 to N8 and the quantity demanded falls from 200 to 190 units. Over this price range, the demand curve is
A. fairly inelastic
B. fairly elastic
C. perfectly inelastic
D. perfectly elastic

2. In economis analysis, a statement is said to be normalize if, it
A. can be tested scientifically
B. relates to value judgment
C. is contradictory
D. is incorrect

3. Utility is the satisfaction derived from
A. production
B. distribution
C. consumption
D. demand

4. If there is an increase in demand without a corresponding increase in supply, there will be
A. fall in price
B. rise in price
C. shift in supply curve to the right
D. shift in demand curve to the left


Use the production possibility curve of a country represented in the diagram below to answer questions 5 and 6

5. An improvement in technology will enable the country to produce at
A. V B. W C. X D. Z

6. If the country is currently producing at point Y, it can increase production of producer goods by moving to the point
A. v
B. W
C. X
D. Z

7. In the table above, the price of commodity y is N2 and that of x is N1 while the individual has an income of N12. Determine the combination of the two commodities the individual should consume to maximize his utility
A 3y and 3x
B. 6y and 4x
C. 3y and 6x
D. 5y and 5x

8. When two variables are positively related, the graph of the relationship
A. is a straight line
B. is a downward-sloping curve
C. is an upward sloping curve
D. has a negative intercept

9. For an inferior good, a decrease in real income lead to
A. an outward shift of the demand curve
B. an inward shift of the demand curve
C  a lowed equilibrium price
D. a change in quantity demanded

10. In a planned economy the emphasis is on
A. individual choice and decisions
B. public ownership and control
C. private ownership and control
D. prices and competition

11. Price elasticity of supply is a ratio of the change in
A. quantity supplied to the c change in demand
B. original quantity to a change in new quantity
C. quantity supplied to the change in price
D. price to the change in quantity supplied.

12. the long-run average cost curve is called a planning curve because it shows what happens to costs when.
A. variable inputs are increased
B. fixed factors are increased
C. different sizes of plants are built
D. a bigger size of plants is built

13. Imperfect market is characterized by
A. many buyers and few sellers
B. a large number of buyers and sellers
C. non-preferential treatment
D. perfect mobility of factors of production

14. Short-run period in production is a period for a firm to be able to change its
A. variable inputs
B. total outputs
C. total revenue
D. scale of operation

Use the table below to answer questions 15 and 16

Output Produced

per day (unit)

Fixed Cost

per day (N)

Total Cost

per day (N)


15. The ATC at 30 units of output is
A. 120.000

16. At 60 units of output, the AVC is
A. N150.00
B. N90.00

17. If the demand curve facing a frim is sharply downward sloping, the firm is likely to be
A. a perfect competitor
B. a monopolistic competitor as it can have a limited influence as it can have a limited influence on price
C. an oligopolist as it can collude with other firms to have some influence on price

18. A normal supply curve is usually positively sloped
A. because the relationship between
B. supply and price is negative
C. price and demand is negative
D. price and supply is positive

19. The best method of production in an under-populated country is
A. labour-extensive
B. land-intensive
C. capital-intensive
D. labour-intensive

20. Insurance companies, pension and provident funds and unit trusts are all examples of
A government financial agencies
B. non-govenmental organizations
C. non-bank financial institutions
D. rural-based revenue mobilisers

21. For a firm, value added can be defined as the difference between the
A. value of its output and the cost of production
B. total revenue and total cost
C. input prices and product prices
D. value of its output and inputs purchased from other firms

22. Securities are described as listed when they are:
A. bought and sold purely for development purposes
B. mobilized as short-term debt instruments
C. Mobilized as long-term debt instrument
D. Traded on a recognized stock market

23. The commercial banks differ from non-bank financial institutions because they
A. accept deposits withdrawable by cheque
B. mobilize savings
C. invest surplus plus
D. contribute to economic development

24. Inflation that is usually associated with periods of trade boom is
A. cost-push inflation
B. demand-pull inflation
C. creeping inflation
D. stagnation

25. The term “Near Money” is best described as
A. a financial assets that is convertible to cash
B. a financial instrument that is readily convertible to cash
C. government financial instrument that is convertible to cash
D. time deposits with low interest rates

26. The distinguishing characteristic between the money market and the capital market lies in whether the
A. finds mobilized are private or public
B. securities are primary or secondary
C. debt instruments provided are long-term or short-term
D. securities are in debentures of ordinary shares.

27. If Nigeria’s composite price index in 1999 was 140.03% and 144.05% in 2000, the rate of inflation in 2000 was
A. 4.02% B. 2.10% C. 2.06% D. 1.03%

28. The monetary control instrument most effectively used by the Central Bank of Nigeria is the
A. discount rate
B. reserve ration
C. margin requirements
D. open market operations

29. The major objectives of a revenue allocation formula in a country is to
A. share revenue between the public and private sectors
B. ensure the financial viability of the country
C. share revenue between the different tiers of government
D. divert revenue from areas of surplus to areas of need

30. The effectiveness of devaluation as a solution to a balance of payments problems depends on the
A. relative elasticities of demand
B. foreign investments of business
C. value of visible and invisible goods
D. value of invisible items of both domestic and foreign trades

31. IBRD as an international monetary institution is concerned with the
A. balance of payments problems of member nations
B. financing of private business in member nations
C. development of infrastucture in member nations
D. improvement of trade among member nation

32. An advantage of the sole proprietorship over the partnership form of business organization is that
A. it enjoys limited liability for debt in the event of failure
B. Its existence is limited bty an individual’s life span
C. It relies on the decision of friends to succeed
D. The possibility of conflict is management in virtually non-existent

33. The distinction between capital and recurrent expenditure lies in the
A. amount of expenditure involved
B. source of the revenue generated
C. nature of the goods and services to be provided
D. time frame of the expenditure

34. Under a floating exchange rate regime, the determinant of the exchange rate is
A. the system of government
B. demand for and supply of foreign goods
C. the highest denomination of the currency an act of the national assembly

35. To compare the standard of living among nations, the most widely used economic indicator is the
A. per capital nominal income
B. real domestic output
C. real gross national income
D. real per capital income

36. Statutory organisations usually established by Acts of parliament are called
A. public enterprises
B. public corporations
C. cooperative societies
D. joint-stock companies

37. A greater burden of the taxes on essential goods is borne by the
A. higher income group
B. newly recruitment workers
C. lower income group
D. contract workers

38. Privatization and commercialization of public enterprises in Nigeria is necessitated by
A. the IMF conditions
B. the IBRD conditions
C. the government’s loss of interest in them
D. their operational inefficiency

39. The theory of comparative advantage states that a commodity should be produced in that nation where the
A. absolute cost is least
B. absolute money cost is least
C. opportunity cost is least
D. production possibility curve increases

40. The effect of an increase in the personal income tax is to
A. raises the absolute price level
B. distort the economy
C. reduce unemployment
D. reduce the disposable income

41. An important factor hindering the rapid development of the industrial sector in Nigeria.
A. excessive demand for finished products
B. the dominance of the oil sector
C. rural-urban migration
D. inadequate infrastructure facilities

42. The demand for labour is an example of
A. competitive demand
B. derived demand
C. composite demand
D. joint demand

43. The major role of multi-national companies in the petroleum industry in Nigeria is
A. oil prospecting only
B. oil marketing only
C. the establishment of refineries
D. oil marketing prospecting


44. Fixing the prices of agricultural products can be a problem because of the
A. unpredictable output of farmers
B. instability of government policies
C. activities of marketing boards
D. size of agricultural exports

45. Occupational mobility as applied to factors of production means the case by which
A. factors can be transferred from one place to another
B. factors can be transferred from one form move use to another
C. resources can be transferred from one place to another
D. resources can be transformed from one form to another

46. The labour force of a country can be determine by xamining the
A. Sex distribution of the population
B. Occupations distribution of the population
C. age structure of the population
D. geographical distribution of the population

47. Two basis features common to an industry are
A. similarity of products and production processes
B. similarity of products and source of raw materials
C. production processes and source of capital
D. source of capital and labour supply

48. A country is said to be over populated when
A. there are too many able-bodied men and women in the country
B. the resources are more than enough to cater for the population
C. the size of the population is greater than the annual budget
D. the resources are inadequate to cater for the population

49. When a union is composed of workers with same
skill, it is called
A. an industrial union
B. a workers’ union
C. a craft iunion
D. a technical union

50. An adverse environmental impact of the petroleum industry on the economy is
A. the vandalisation of oil equipment
B. oil spillage
C. communal riots


1. The effect of an expansionary monetary system above full employment level is a
CORRECT ANSWER = rise in the inflation rate
2 :- the maimumum amount of money a company is allowed to raise b issuing shares to the public is
CORRECT ANSWER = authorised capital
3 :- the value of money will apppreciate if
CORRECT ANSWER = price decrease
4 :- in noigeria ,government can ensure continos supply of agricultural produce in al the seasons by
CORRECT ANSWER = provide adequate and efficient storage facilities
5 :- from the above table calculat the ccoefficient of elasticity of demand
6 :- the reduction of high fertility rate is a measure of population control designed
CORRECT ANSWER = make growth I population
8 :- capital accumulation for low income earners is btter done through
CORRECT ANSWER = credit and thrift societies
9 :- the government of nigeria can conserve foreign exchange by
CORRECT ANSWER = restricting import through imprt quotas
10 :- the minimum number of persons who are legally allowed to operate in a partnership business is between
11 :- from the above diagram,given the existing resources in the economy,a movement from h o f will lead to the production
CORRECT ANSWER = more cotton and less coal
12 :- gnp is not a good measure of social welfare because they are unrecorded
CORRECT ANSWER = transfer payment
13 :- one of the major goals of opec is to
CORRECT ANSWER = ensure that quota production is strictly followed
14 :- one of the factors considered in the determinant of wages is
CORRECT ANSWER = the rise involved I n an occupation
15 :- if government expenditure exceeds its revenue,this will give rise to a
CORRECT ANSWER = budget deficit
16 :- from the above diagram at which point is the total utility higher
17 :- the demand curve for a firm operating u nder perfect competition is
CORRECT ANSWER = perfectly elastic
18 :- terms of trade is expressed as the
CORRECT ANSWER = rate at which export are exchanged for import
19 :- from the above what is the mean of ghe distribution
20 :- the typical feature of a market economy is that
CORRECT ANSWER = consumer soverignty exists
21 :- given that qd=40-4p and qs=12p=24,determine the equillibrum price
22 :- petro chemical industries are located in the river state of nigeria because of
CORRECT ANSWER = crude oil deposit
23 :- in an imperfect market the monopolist can influence
CORRECT ANSWER = price and quality
24 :- from the above table,the medium of the distribution is
25 :- in the production process,the law of diminishing returns begins to set in when
CORRECT ANSWER = marginal product begins to fall
26 :- the most unique quality of money is its
CORRECT ANSWER = acceptability
27 :- the u shaped of the long run average cost curve is explained by
CORRECT ANSWER = increasing return
28 :- in nigeria import substitution industralization strategy is faced with the problem of
CORRECT ANSWER = over dependence on imported component
29 :- from the above table,the mode of distribution is
30 :- a cosmetic dealer sourcing for cpital to expand his business will approach
CORRECT ANSWER = bank of industry
31 :- freom the above diagram,the movement from point n to point m implies that
CORRECT ANSWER = more of commodity x is consumed than that of of commodity y
32 :- one of yhe advantages of using labour intensive strategy of production is that if
CORRECT ANSWER = provides more employment opportunities
33 :- a business organisation in wich thwere is limitation to the amount of loses a shareholder can sustain in the event of business by law is
CORRECT ANSWER = limited liability company
34 :- rural-urban migraytion is influenced by
CORRECT ANSWER = the availability of employment opportunities
35 :- fram the above diagram the supply curve for agricultural products is illustrated by
36 :- the demand curve for a perfectly competitive firm is
37 :- which of yhe following is a direct tax
38 :- froam the above graph,the equillibrum price and quantity is represented at points
39 :- the most important determinant in the supply of agricultural products is
40 :- the marginal propensity to consume measures the relationship between


Still Loading…

If you need us to help you with more updated information at the right time about JAMB Economic Questions 2020, kindly provide us your phone number and email Address in the comment box below. Also feel free to ask any question pertaining to this guide.

What’s your take on this? We believe this article was helpful, if yes, don’t hesitate to share this information with your friends on Facebook, Twitter, Whatsapp and Google plus.

Click here to Download Full questions

CSN Team

Enter your email address:

Delivered by TMLT NIGERIA

Join Over 500,000+ Readers Online Now!



COPYRIGHT WARNING! Contents on this website may not be republished, reproduced, redistributed either in whole or in part without due permission or acknowledgement. All contents are protected by DMCA.
The content on this site is posted with good intentions. If you own this content & believe your copyright was violated or infringed, make sure you contact us at [[email protected]] to file a complaint and actions will be taken immediately.

Tags: , , , , , , , , , , ,

Comments (109)

Trackback URL | Comments RSS Feed

  1. Nwankwo confidence says:

    Pls am writing on 15 march 2018. Pls i need Gov. Literature. Economics. Physics chemistry nd biology. Thanks

  2. Johnson says:

    My whatsapp number is 08067971258

  3. Ibrahim Olamide says:

    please i need government and comm syllables 08078380225

  4. Ibrahim Olamide says:

    I have go tru it I I want to thank this site currents school new pls we need other comm, govt , eng

  5. Inimfon says:

    Hello I writing use of English, Government,Economics and Biology tomorrow 1:30pm, please I need your help .here is my contact number 08134184894

  6. gideon says:

    so helpful my number is 09021655577 thanks.

  7. carey david says:

    please i need economics correct syllables 09090443473 that is my number

  8. carey david says:

    pls i need the major topics on economics this year >[[email protected]] dats my email

  9. Racheal Fadason says:

    08100283414 please help thanks

  10. THANKGOD says:

    pls,i need question on maths,english,physics and economics here is my email address [email protected] and my phone no 07035743281

  11. Fakinlede Sunday Ojo says:

    Please I need answer to economic maths government and English this is my number is 09033159013 thank you

  12. Fakinlede Sunday Ojo says:

    Please I need answer to economic maths government and English this is my number thank you

  13. Kalu erinma amadi says:

    Please I want economics and government question and answer for 2016

  14. Franca flourish says:

    please I need the answers to jamb 2017 economic, commerce and English language

  15. DANIEL says:

    I needont it an am writing on 1st july this is my number 0701 862 2904

  16. Samuel Olanipekun says:

    Please i need it o am writing july 1st o

  17. obiwali says:

    Pls I bid English govt math nd economics question for July 1st 09094512248

  18. sirfinest says:

    any news about jamb exam on july 1st? I recived a message that am writing on july bt details av not been sent to me

  19. Austin says:

    plz cn u help me with d questions against july first

  20. honeywealth says:

    pls the portar is not opening. we were unable to register for jamb. since is closing by 28th may. pls do something abt it

  21. anonymous says:

    I am writing EConomics, Government and Literature on 20th of May by 1:30 PM Please kindly drop it in my phone number 08075942050. I have read very well, I just wanna try this maybe it works. Ono kan O gboja.

  22. Omolayo says:

    please maths, english,economics and commerce today 17 of may

  23. Godslove says:

    Am writing tomorrow morning so I need ur help English literature economic government

  24. Eric says:

    please economics, commerce, maths and English answer for 17th, 9am
    [email protected]

  25. izuagwu Sandra says:

    pls am writing 2day .maths English economist government

  26. ayomide says:

    economic and physics and mathematics

  27. toni says:

    Please i need maths,english,government and economics on thursday by 1:30pm.My number 08025621298,

  28. ayuba says:

    English Mathematics Economics Government am writing on tomorrow pls

  29. tb says:

    I need maths, English, economic and government. please I need it today

  30. mubarak ojeyinka dolapo says:

    pls i need mathematics question sir and account

  31. zuzu says:

    Hi please am writing by 1pm today I need economics commerce and maths .

  32. Kindness says:

    Please I need mathematics,english,economics, governmenet on thursday by 8:00am. This is my number 08107800340 or you mail me at [email protected]

  33. Chidera udeh says:

    Pls I’m reading on Tuesday by 1.30,English, math,economic, government my number is 07083206467

  34. Ndukwe says:

    Pls am writing on Wednesday. Mathematics. Economics English language

    [email protected]

  35. Ndukwe says:

    Economics mathematics English language. ( [email protected]

  36. Ezenwanne chioma says:

    Am writing on 17th wensday. English, CRS, government, economic. 09034673526

  37. Ezenwanne chioma says:

    Pls can I see the answers?

  38. opara kelechi says:

    please am writing on 16th may 2017 please help me on use of english, maths, economics and government pls i need the answers before 7:00 tommorrow
    my phone number is 08103666425

  39. opara kelechi says:

    please am writing on 16th may 2017 please help me on use of english, maths, economics and government pls.

  40. emmy says:

    Can i have economic economic,commerce,english,maths am writing tomorrow 08148438203

  41. emmy says:

    Can i have economic questions And answer am writing tomorrow 08148438203

  42. frank tosiben says:

    please am aslso writing mine by 7am tomorrow English, mathematics, economics and commerce. 0706640656… [email protected]

  43. Chinwendu Albert says:

    please. am writing my tomorrow,English, Mathematics, Economic and Geography. I need there questions and answers. Here is my mobile number 08165290422

  44. imom john says:

    plz am writting tomorrow,plz send me economics answers this my number 09066381657

  45. Omoshalewa Egberongbe says:

    pls I need question and answer on economic, English and govt
    this is my number sir 08181476612

  46. john says:

    my number is 07039321682 also WhatsApp my exam is may 17,7am my subject ar English,government, economics,and CRS pls help

  47. Solomon obinna says:

    Please send economic answer
    To my no 08033353701

  48. Christian Paulinus says:

    pls how can I get English economic commerce government

  49. olanrewaju says:

    I need government and maths

  50. john says:

    math eng comm, economics (tuesday 16 9:00) thanks

  51. john says:

    math eng comm, economics

  52. Igbokwe Chinwe says:

    Please, am writing tomorrow morning(16th), please I need Maths, Economics, English and Government. My phone number is 09092878057. Thanks.

  53. Jude says:

    am writing on Thursday. I need economics, crs,english,literature…
    phone no is 08145930131,email is [email protected]

  54. Alfred miracle says:


  55. Deborah Ifegwu says:

    I need ur help in maths, economics, English am writing by 1 today

  56. Deborah Ifegwu says:

    I need it help in maths,economics and English.. Am writing by 1 today

  57. Plc i have an exam today by 1:30pm i need english and government hausa and then economics my number is 08103816931

  58. Emmanuel says:

    thanks 4 the Q nd A pls I’m writing my exams may 16 mathematics, government, English, economics time 9.30am.thanks

  59. Atukpor oluchukwu champion says:

    Please I have exam today by 1:30pm. I need maths English economics govt.

  60. chisom Nwulu Robinson says:

    please i need jamb economics, English,Christian religious study and government my time 1:30pm 15,may monday

  61. kelvin says:

    Economics government mathematics English and my number is 08118636729

  62. David says:

    Am writing today 15th of may nd my time is 1pm, my subject are English, economic, Biology and Government.
    Pls I need answers of d subjects thanks.
    My no. 08066637532

  63. micheal says:

    pls need answers to those questions

  64. ramsey odiba says:

    ramsey I’m writing on Monday 15 may,by 9am. my email address is [email protected]. my phone number is 08178169591 also my WhatsApp. my reg no is 75221147hf

  65. Alhaji says:


  66. Anjolaoluwa Famuyide says:

    please am writing on the 17th of may
    I really need the questions nd answers of the subject below:
    my phone number is 08105990395

  67. sarah says:

    my phone num is 09033038289

  68. sarah says:

    please I need question and answer on eng
    lit in eng
    please am writing on 15 which is tomorrow at 1:00 please help me before 12 with the answer thanks

  69. gloxxymk says:

    Please i need english commerce economics nd biology, am writing exam tomorrow please 08035054579 [email protected]

  70. Emmanuel says:

    Please am writing on 15th may
    Economic answers
    Times is 8.00am
    Please i need it
    This is my number
    08148245503 also my whatsapp

  71. hadekunle says:

    pls i need english maths geography biology on tuesday
    @1:30pm my is 08086728428 as sms

  72. chimexico says:

    pls i Ned English maths and economics and government answers tomorrow been 15/5/2017 my exam is by 7am in the morning pls before 7am let me see it. email: ihekwoabachimezie2020 WhatsApp no:09060453029

  73. david says:

    07019915429 pls add me

  74. jcjack says:

    I also need it here 08107975363 and on whatsapp

  75. vitals says:

    Plz mine is on 13th,Monday
    Help me with English,Economics,Governmentand Commerce.
    [email protected]

  76. sodiq says:


  77. sodiq says:

    eng commerce econs maths my num 08172681312

  78. Samuel says:

    Am writing English, government, economic, c r s on 18. Please i need answer.

  79. Angela says:

    I need jamb questions economic use of English government nd lit in english, am written on tuesday plz help me out, i beg u

  80. jess says:

    Please am writing on 17 I need economics, government and literature. This is my number 08146879251 please help me out thanks

  81. kabir says:

    please I will be writing on Monday I need economic accounting if possible maths and english

  82. kabir says:


  83. James says:

    Pls can I get Literature, English,government and economics question to tackle before Tuesday16 of May…m thanks.

  84. Josh Omafu says:

    I really need that on English, Government, Commerce and Economics
    [email protected]

  85. Fortune says:

    Please am writing on Monday, England, maths, economic, nd govt nd I need an answer on this and here is my line 07015255298

  86. Ifeoma says:

    Am writing on Monday. I need economic, government and English answers

  87. Itassam Augustine Donatus says:

    I need answers for government,math,English,economics jamb 2017 think you

  88. Damilare says:

    pls I need jamb questions on mathematics,uses of English, economics and Government

    • Damilare says:

      am writing on Tuesday 16/05/2017. Pls I need jamb questions on mathematics,uses of English, economics and Government

  89. i write may jamb on tuesday i need economics answer

  90. francis fena says:

    Hello, pls I need 2017 jamb questions and answers on Economics Maths,commerce and English..i have Exam on Monday..thanks

  91. kunle odujebe says:

    my phone number or whatapp is

  92. Gabriel says:

    I need 2017 jamb questions and answers, and am sitting for jamb on the 15th of may. English,maths,economics,and commerce.

  93. Abubakar says:

    I have my examination on 17 my subjects is government, economic, agriculture, English

  94. Abubakar says:

    Pls I need your help here is my user gmail [email protected]

  95. hunwi says:

    pls jamb accounting questions & answer


    Am writing on Monday 15th. I need answers to my questions English, mathematics, government and economics.. This is my jamb registration number 76037522AG and this is my number 09098393133

  97. Am writing on 13,I need economic,maths,government and English questions.

  98. Mercy says:

    pls I need 2017 Jamb Questions and Answer on English Mathematics Economics Government am writing on Tuesday pls

  99. chomy says:

    pls am writing today d exam questions pls

  100. Oludamiro Ayomide Samuel says:

    pls i nid 2017 jamb questions and answers on physics, chemistry, maths, english, accounting & econimics…tanx

  101. Victor says:

    [email protected]

    I’m writing on 13,please