THE UNKNOWN SOLUTION TEAM

13. If the coefficient of price elasticity of supply is greater than one, the supply is said to be A. perfectly elastic B. fairly inelastic C. infinitely inelastic D. fairly elastic✅ 14. If commodity X is a by-product of commodity Y , this implies that both commodities are A. in competitive supply B. in composite supply✅ C. jointly supplied D. in excess supply 15. In perfect competition,price is determined by the A. government B. sellers C. buyers D. market✅ 16. In order to reduce hardship faced by consumers due to high prices government can introduce A. maximum prices✅ B. commodity boards C. minimum prices D. price control boards 17. A firm enjoying economies of scale is said to be A. reducing average cost as production increases✅ B. benefiting from the activities of other firms C. maximizing profits as production increases D. having an upward-sloping average cost curve 18. The rising portion of the long-run average cost curve of a firm is an indication that it is experiencing A. increasing efficiency B. economies of scale C. diseconomies of scale✅ D. increasing marginal returns 19. An industry's supply curve is more likely to be elastic when firms are A. enjoying free entry and exit✅ B. operating at full capacity C. operating below capacity D. maximizing profits 20. One of the characteristics of monopolistic competition is that A. there is mobility of factors of production B. no single seller dominates the market✅ C. the firms are price-takers D. consumers have perfect knowledge of price 21. The demand curve for factors of production A. is perfect elastic B. slopes upwards C. slopes of downwards✅ D. is perfectly inelastic 22. The deregulation of telecommunication services in Nigeria is a characteristic of A. command economy B. traditional economy C. market economy✅ D. feudal economy 23. The production possibility curve can be used to explain the underlying concepts of A. scale of preference and choice B. opportunity cost and choice✅ C. wants and means D. opportunity cost and scale of preference 24. If the increase in the price of yams is used to estimate the inflation rate, this is an example of A. deductive reasoning B. inductive reasoning✅ C. normative reasoning D. positive reasoning 25. If the standard deviation of a given data is 8.2, find its variance A. 4.1 B. 67.2✅ C. 82.0 D. 91.8 26. If 100 units and 120 units of commodity X are supplied at N80 at different times, it means that there is A. a change in supply✅ B. a change in the quantity supplied C. an increase in the quantity supplied D. a increase in the quantity supplied 27. A major determinant of the demand for a luxury goods is A. the price of the goods✅ B. the price of other goods C. the income of consumers D. tastes and fashion 28. If income rises from N2000 to N4000 and quantity demanded increase from 80 units to 120 units, find the income elasticity of demand A. 0.5✅ B. 1.2 C. 2.5 D. 4.0 29. If the demand elasticity coefficient of cars is 0.5, it implies that the demand for petrol is A. elastic B. perfectly inelastic C. inelastic✅ D. perfect elastic 30. As long as marginal utility is positive, total utility must be A. negative B. increasing✅ C. zero D. decreasing 31. Diminishing marginal utility implies that A. total utility decreases as consumption increases B. marginal utility increases as consumption increases C. marginal utility deceases as✅ consumption increase D. marginal utility decreases as consumption decreases 32. The excess benefit derived from the purchase of goods over the amount paid for them is referred to as consumer A. rationality B. surplus✅ C. sovereignty D. credit 33. An upward movement along the same supply curve results in A. an increase in supply B. a decrease in price C. a decrease in quantity supplied D. an increase in quantity supplied✅ 34. To protect farmers during a bumper harvest,. the government usually A. set a maximum price B. release products from the buffer stock C. sell the excess to consumers D. set a minimum price✅

Question 47 The dominant idea behind the establishment of the organization of African Unity is A. that Africa must unite B. to show the world that Africa can also do what Latin American and Asian countries have done C. to provide a framework and opportunities for-co-operation on common Africa problems D. to promote economic development of Africa E. to have its Secretary-General co-ordinate the foreign policies of member states Question 48 The new local government reforms in Nigeria A. seek to establish uniformity in type, purpose and functions local authorities B. make traditional rulers more powerful than ever before C. are a waste of time and the federal government's money D. promote unity but allow for some diverity in the structure of local governments E. would definitely establish clean and efficient governments at the local level Question 49 The principle of universal adult suffrage refers to A. the right of all adult people to vote B. the structure of political parties C. the legal nature of a constitution D. the right to free speech E. all of the above Question 50 A constituency A. is the same as a legislature B. is part of the campaign process C. is an area or district in which the inhabitants can send a representative to parliament D. is an important part of every monarchy E. consists of party executives and freewheelers Question 51 The treaty establishing the Economic Community of West African States (ECOWAS) was A. concluded in Lome (Togo) in December, 1976 after hard and extensive negotiations B. designed as the main pillar on which an eventual African common market would be built C. the brain-child of Togo and Ghana D. signed in Lagos in May 1975 to promote trade and other economic co-operation in the region as a whole E. to immediately eliminate tariffs and other barriers to trade among members JAMB ECONOMICS QUESTION AND ANSWERS PRACTICE 40 QUESTIONS👇👇 1. Economics is the study of human behaviour as it relates to the A. efficient allocation of resources✅ B. production of goods C. operation of companies D. generation of income 2. The downturn in the prices of shares on stock markets is a highlight of A. efficient allocation of resources B. the invisible hand C. the regulatory nature of the market✅ D. consumer rationality 3. The standard deviation of a set of data is A. always measured from the mode B. the most representative of averages C. always measured from the median D. a measure of dispersion✅ 4. The mean is the best measure of central tendency because it A. is not affected by extreme values in a data✅ B. is a midpoint value in an array of data C. is a balancing point in an observation D. can be calculated from incomplete data 5. The most popular sizes of dresses and shoes are determined by the A. range B. mean C. mode✅ D. median 6. If the demand for a good is more elastic than its supply, the tax burden is borne A. equally by consumers and producers B. more by producers✅ C. more by consumers D. more by retailers and producers 7. If the price of a commodity with elastic demand increases, the revenue accruing to the producer will A. double B. increase C. be constant D. decrease✅ 8. Consumer surplus tends to be higher when demand is A. inelastic B. perfectly elastic C. elastic✅ D. unitarily elastic 9. One of the assumptions of ordinal utility theory is that A. choice is not consistent B. utility can be ranked✅ C. total utility is a function of price D. satisfaction is measurable 10. The law of diminishing marginal utility explains why A. the slope of a normal demand curve is negative✅ B. an abnormal demand curve slopes upwards C. the slope of a normal demand curve is positive D. the consumption of inferior goods increases with income 11. If a consumer plans to spend 120k on four oranges but spent 80k, his consumer surplus is A. N1.50 B. N0.40✅ C. N1.00 D. N2.00 12. A set of factors that can shift the supply curve are changes in A. weather, price and technology B. technology, weather and population✅ C. technology, price and taste D. population, price and taste

Question 35 The 1946 constitutions in Nigeria and the Gold Coast (Ghana were the results of A. pressures from nationalists within the colonies B. pressures by united states of America C. pressures from the British government D. pressures from within and from outside these colonies E. none of the above Question 36 If the rights of the individual are violated or threatened, where can he go for redress? A. the Executive branch of government B. the Legislative branch of government C. the Local government council D. the Judicial branch of government E. the Ministry for internal of Home Affairs Question 37 In the Presidential system of government the president is elected to office by A. the cabinet B. the parliament or legislature C. the military D. the people through direct elections E. the political party Question 38 The military take over power from politicians in West African countries A. when poltician have become corrupt and are reckless in their use of power B. when there is a breakdom of law and order in the country C. for reasons which touch on the interest of the military D. because of the personal ambitions of some politicians E. all of the above Question 39 By establishing public corporations governments are trying to A. eliminate private enterprises B. compete with private enterprise C. render crucial services to the public in areas which the civll service cannot effectively handle D. make quick profit at the expense of the people E. B and D Question 40 The constitution of any given country must provide for A. the ditribution of powers B. the rights and duties of the individual C. the rule of law D. none of the above E. A, B and C Question 41 In a modern state, pressure Groups find that the most effective way of achieving their purposes is by A. causing trouble among he populace B. influencing decisions of government C. forming political parties D. rigging elections to offices of the state E. A and C Question 42 Which of the following would you consider the most famous among the leaders of nationalist movement in Nigeria? A. Kwame Nkurumah B. General Olusegun Obasanjo C. Herbert Macaulay D. Anthony Enahoro E. Dauda Adegbenro Question 43 The idea of collective responsibility in the Executive branch of government means that A. no single member of the executive can take any responsible decision B. a member of the executive has no way out of decisions made in that body C. a member executive cannot publicly criticise decisions collectively made without first resigning D. responibility within the executive is not unilateral E. parliament must ratify executive decision collectively reached Question 44 Indirect Rule as practised by the British in their West African colonies A. did not attempt to reform existing traditional institutions B. was over glorified and expedient nonsense C. satisfied neither the rulers nor the ruled D. had nothing in common with the reality of french rule in their colonies E. meant ruling through existing rulers and attempting to check excesses Question 45 The French idea of assimilation as applied in their colonies A. was to make Frenchment out of African subjects B. would have been allowed to produce more Frenchmen in the colonies than in traditional African C. recognised real value in traditional African culture and was merely aimed at upgrading it D. produced nothing but African puppets in the colonies E. was abandoned within a couple of years of its operation Question 46 The most remarkable thing about post-independence political development in the Gambia is A. that the country has been swallowed up by the much bigger country of Senegal B. the relatively untarnished reputation of sir Dauda Jawara C. that without reliance on overwhelming force, the government has remained in power and tolerated opposition D. the uniquely robust economy which the government has succeeded in establishing for the country and distributed fairly among its people E. the existence of opposition parties

XMG: A. 1916 B. 1923 C. 1944 D. 1948 E. 1951 Question 16 The Lol Cadres, a major factor in the constitutional development of the French colonial territories, was introduced in A. 1940 B. 1946 C. 1950 D. 1956 E. 1960 Question 17 The Coussey Commission Report laid the ground-work for the eventual independence of A. Gambia B. Gold Coast (Ghana) C. Sierra Leone D. Liberia E. Nigeria Question 18 The (former ) Western Region of Nigeria became internally self-governing in A. 1955 B. 1957 C. 1958 D. 1956 E. 1959 Question 19 The first Pan African, conference was held in A. Paris B. Brussels C. London D. New York E. Manchester Question 20 The Public Service Commission (Nigeria) is responsible for the appointment of all, A. judges of the High Court B. officials of public corporations C. civil servants D. military personnel E. university teachers Question 21 Constitutional cases in Nigeria can only be raised in the first instance in A. the Supreme Court B. the High Courts C. the Courts of Appeal D. the Sharia Court of Appeal E. none of the above Question 22 Which of the following would act for the Head of state when he is out of the country? A. the Chief Justice of the Supreme Court B. the Chief of Staff, Army C. the Chief of staff, supreme Military Head Quarters D. the Chief of Staff, Air Force E. the General Officer Commanding, First Division Question 23 To raise funds, local governments can levy A. import duties B. income taxes C. Excise duties D. rates E. profits tax Question 24 The Economic Commission for Africa is an agency of A. the OAU B. the Commonwealth C. the United Nations D. the OCAM E. the African Development Bank Question 25 Nigeria is not a member of A. the OAU B. the Security Council of the UN C. the African Development Bank D. the Commonwealth E. the OCAM Question 26 The primary political parties is to A. oppose the government B. Aggregate interest C. mobilise public opinion D. provide welfare for their member E. provide support for the military Question 27 Th OAU was formed in A. 1946 B. 1956 C. 1960 D. 1963 E. 1965 Question 28 All members of the newly constituted local government councils in Nigeria were A. Directly elected B. indirectly elected C. appointed by the State Governors D. appointed by the Head of State E. none of the above Question 29 Which of the following is true as a major function of elections? A. Elections serve the purpose of recruitment of the leaders to office in a modern state B. the elections give the people a chance to eliminate opponents who are in office C. they are means of testing the popularity of politicians of politicians D. politicians use elections as tools to deceive the populace E. Elections are a means by which politicians keep themeselves in power Question 30 The first Governor General of Nigeria was A. Lord Lugard B. Dr Nnamdi Azikiwe C. Sir James Robertson D. the late Major Genery Aguiyi Irosi E. the Oni of ife Question 31 The first Governor General of Nigeria was A. Lord Lugard B. Dr Nnamdi Azikiwe C. Sir James Robertson D. the late Major Genery Aguiyi Irosi E. the Oni of ife Question 32 The supreme policy-making organ in the Organization of African Unity is A. the Council of ministers B. the Assembly of Head of State and government C. the general secretariat D. the specialised commissions E. none of the above Question 33 In which of these organs of the United Nations Organization is veto power exercised by some countries A. the world health organisation B. the security council C. the general assembly D. the UN committee against apartheid E. the international court of justice Question 34 In a federal system such as Nigeria the local governments are directly responsible A. to the federal or central government B. to the state government C. to no other level of government D. to the federal and state governments E. to any level of government which can provide money for its programmes

Correct Answer: B✅ ============ 7. Which of the following groups is paid first when a firm liquidate? A. Preference shareholders B. Debenture holders C. Ordinary shareholders D. Cumulative preference shareholders Correct Answer: A✅ ============ 8. Compulsory dissolution of a business can arise from A. an agreement by the owners B. a declaration by a court of law C. the termination of its life D. an unfavourable economic climtate Correct Answer: B✅ ============ 9What are fixtures and fittings in a balance sheet?A. liquid capital B. current assets C. fixed assets D. working capital Correct Answer: C✅ =========== 10. Governments impose import duties for the following reasons Except  A. to raise revenue for other services B. to act as a retaliatory measure against other governments C. to discourage the redistribution of income at home D. to protect home industries from external competition Correct Answer: C✅ ============ YOUR SUCCESS IS MY CONCERN **1978 JAMB GOVERNMENT PASS QUESTIONS* Question 1 When did Nigeria gain her Independence? A. 1st October, 1963 B. 31st October, 1690 C. 1st October, 2012 D. 1st October, 1960 E. 12th October, 1992 Question 2 Democracy means a system of government in which A. the majority rules B. the minority rules C. there is no party system D. the people rule E. none of the above Question 3 A constitution is federal if A. it provides for a presidential system B. it is unwritten C. it is not unitary D. the central and component units or authorities are co-ordinate and equal E. there is a division of powers between a central and a number of other component authorities Question 4 The Executive is A. a committee of the legislature B. the body that makes laws C. the body that executes the policies of government D. the highest organ of government E. none of the above Question 5 The Judiciary is A. an arm of the Executive B. the body which makes the law C. a body of lawyers D. the body which interprets the law E. the body which enforces the law Question 6 The separation of powers means the same as A. a presidential system of government B. checks and balances C. the rule of law D. supremacy of the judiciary E. none of the above Question 7 Rights are A. claims which the law allows B. claims against the state C. claims against other individuals D. claims which are natural to men E. what are written in the constitution Question 8 Pressure groups are A. Organisation which want to overthrow the government B. organisations which seek to influence the policies of the government C. associations of people who share the same ideology D. political parties E. religious orders Question 9 A cabinet system of government is practised in A. the USSR B. the USA C. the People's Republic of China D. the United Kingdom E. North Korea Question 10 The citizen's obligations are A. what the government orders B. duties the individual imposes on himself C. what the law requires of the individual D. what the military decrees E. what political parties demand of their members Question 11 An electoral system is the system which governs A. the appointment of the Pope elections B. how people vote C. the conduct of elections D. the appointment of cabinet ministers E. the appointment of judges Question 12 An unwritten constitution is one which A. is not subject to judicial review B. is only partially written C. is not written at all D. is made up solely of a set of conventions E. none of the above Question 13 Delegated legislation is legislation A. which is not submitted to parliament B. made by judicial tribunals C. made by a minister acting an Act of Parliament D. made by local government E. made by parastatals Question 14 Before colonial rule, Yoruba traditional rulers were appointed by A. the people acting through their representatives B. the Ogboni C. Ifa (oracle)priests D. Odudwa E. Kingmakers Question 15 The first political party properly so-called was formed in Nigeria in

𝐄𝐗𝐀𝐌𝐆𝐎𝐃: XMG: JAMB EXPO 2023: CORRECTION OF  ECONOMICS C.B.T PRACTICE QUESTIONS [Series 1]🔬 1. Correct Answer: Option C✅ Explanation: Transfer payment are payment of receipts not resulting from contribution to productive activities in the economy. They are mere transfers from one person to another, for example: pension, bursary, award, gift, unemployment benefit etc. When estimating or calculating national income, transfer payment are excluded. 2. Correct Answer: Option C✅ Explanation: Primary products are goods that are available from cultivating raw materials without a manufacturing process. Significant primary product industries include agriculture, fishing, mining and forestry. Examples of primary products are: oil, water, fish, fruit, crops, wood etc. 3. Correct Answer: Option C✅ Explanation: A consumer is in equilibrium when the marginal utility equal to the price of the commodity i.e MUx = Px. Where : X = the commodity MU = Marginal utility P = price of the commodity Therefore, a consumer who consume a single commodity such as apple will be at equilibrium when MUa = Pa 4. Correct Answer: Option B✅ Explanation: Capital account transaction is the net balance of international investments. In order words, it keeps track of the flow of money between a nation and its foreign partners. 5. Correct Answer: Option C✅ Explanation: Economic integration forms international co-operation among nations to foster their economic interests. Countries with common interests form themselves into an organisation whose major objectives are to remove trade barriers and other obstacles that reduce the free flow of goods and service between them. ++++++++++++++++++++++++++++ Others Subjects Questions Coming Later is step by Step Here, Just Find a book to Solve Questions and Answers✌️ CORRECTION OF  PHYSICS C.B.T PRACTICE QUESTIONS [Series 2]🍇 1. Correct Answer: Option B✅ Explanation: If both the coil and the magnet are stationary, then there is no change in the magnetic flux and hence no current is induced in the coil. 2. Correct Answer: Option B✅ Explanation: Tire treads provide your tires the ability to grip the road safely enhancing proper traction. Helps your vehicle to be able to accelerate smoothly and as well to be able to brake more quickly. 3. Correct Answer: Option C✅ Explanation: S = ut + 12 at2 40 = 0 x 10 + 12 a x 102 50a = 40 a = 4050 = 0.8m/s2 4. Correct Answer: Option C✅ Explanation: R.D = loss in weight in liquid X loss in weight in water. R.D = (10 - 7)/(10 - 6) = 3/4 5. Correct Answer: Option A ++++++++++++++++++++++++++++ Others Subjects Questions Coming Later is step by Step Here, Just Find a book to Solve Questions and Answers✌️ COMMERCE MOST REPEATED QUESTIONS AND ANSWERS (JAMB) 1. Commerce is defined as the study of how A. man utilizes the resources in his physical environment B. man produces, distributes and consumes his goods and services C. man buys, sells and distributes goods and services D. raw materials are changed into finished goods Correct Answer:C ✅ ============ 2. The type of activity which turns processed raw materials into consumer and industrial goods is described as A. extractive B. manufacturing C. constructive D. processing Correct Answer: B✅ ============ 3. The production process that combines two or more raw materials into one end product is A. conditioning B. blendingC. merging D. synthesis Correct Answer: B =========== 4. A demonstration of social responsibility by a business is the payment of A. taxes to government B. dividends to shareholders C. interests on loans D. premium on insurance Correct Answer: A✅ ============ 5. A distinguishing characteristics of a limited liability company is that it A. is a collection of many sole proprietors B. is a multiple partnership C. can sue and be sued D. has limited resources Correct Answer: C✅ ============ 6. Which of the following takes place when firms producing at different stages in the same industry combine? A. conglomeration B. vertical integration C. horizontal integration D. cartel

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Jamb CBT Agricultural Science Questions And Answers by XamGod 1. Theobroma cacao grows best in the Answer: humid rainforest zone 2. By-products of livestock used as feed ingredients in poultry ration include Answer: blood and bones 3. The following are Farm surveying equipment Answer: Gunters chain, compass and Abney level 4. Subsistence farmers mostly practice Answer: mixed farming 5. Nutrient replenishment in soil can be enhanced by Answer: Crop rotation 6. Insect damage to crop takes the form of Answer: chewing, sucking and piercing 7. A farmer collects 800 eggs from a laying stock of 1200 birds per day. Determine the laying percentage of the stock Answer: Laying percentage = (number of eggs x 100) ÷ number of layers = (800×100) ÷ 1200 = 67% 8. The branch of horticulture that deals with the production of vegetables is called Answer: Pomology 9. A bag of fertilizer has a ratio of 0 : 10: 0 written on it. This means that the fertilizer is a Answer: Phosphate fertilizer 10. A piece of land is said to be on lease to a farmer when it is Answer: rented for a period 12. What is the function Nitrosomonas bacteria in nitrogen cycle? Answer: Nitrogen fixation 13. In crop production, ginger is propagated by Answer: rhizome 14. What feature do you think can lead to wrong reading on a prismatic compass? Answer: magnetic attraction 15. Continuous soil tillage could lead to Answer: Breakdown of soil structure 16. Crop rotation decreases the incidence of pests by Answer: breaking life cycles of pests 17. The forest management system which involves the planting of both food crops and forest trees on the same piece of land at the same time is known as Answer: taungya 18. Yellow colouration of the lower leaves of a growing maize plant may be due to deficiency in Answer: Nitrogen 19. The major factor affecting the distribution of crops in West Africa is Answer: climate 20. The system in which a farmer uses a piece of land for a period of time and abandons it for another land is called Answer: shift cultivation 21. A mass of decayed plan and animal wastes processed in pits is referred to as Answer: compost manure 22. Flood irrigation is used for the cultivation of Answer: swamp rice 23. A sow that is not producing milk after farrowing should be given Answer:  oxytocin 24. Corms, rhizomes and tubers are examples of Answer: underground stems 25. The correct sequence for the use of coupled implements for land preparation is Answer: plough, harrow and ridger 26. Which layer of the soil profile do most biological activities occur? Answer: A-horizon 27. Under the communal land tenure system, farmers find it difficult to secure loans because Answer: land holdings cannot be used as security 28. Piglet anaemia can be controlled by using Answer: iron drugs 29. The correct sequence of feed utilization in farm animals is Answer: ingestion-digestion-absorption-assimilation 30. Which group of rocks is formed as a result of volcanic eruption? Answer: Basalt, granite and pumice 31. Soil water that is available for root absorbtin at field capacity is Answer: Capillary water 32. Sexual maturity in farm animals is not influenced by their Answer: Weaning age 33. In birds, loss of appetite, respiratory difficulties and nervous paralysis are symptoms of Answer: Newcastle diseases 34. The device which helps to stabilize heat in an incubator is the Answer: Thermostat 35. In animal production, newly-born rabbits are called Answer: Bunnies 36. In crop production, ginger is propagated by Answer: rhizome 37. The main objective of establishing forest in the arid region is to Answer: check desert encroachment 38. Poaching is prohibited in game reserves to Answer: conserve wildlife 39. A regulatory control of diseases in crop production is Answer: Quarantine 40. Pineapple is widely propagated using suckers I remain Jamb Legit Clinic💊🫵

15. A disadvantage of a joint-stock company is A. unlimited liability B. limited liability C. continuity D. loss of controlling interest ANSWER: D (loss of controlling interest) *_For Your Legit Jamb/Waec/Neco etc Assistance Call/WhatsApp ExamGod 07032599536* 16. An effect of inflation is that it A. discourages trade by barter B. favours debtors at the expense of creditors C. increases the real income of salary earners D. increases the value of a country’s export ANSWER: B ( favours debtors at the expense of creditors) 17. Budget deficit is the amount by which A. total expenditure exceeds revenue B. recurrent expenditure exceeds revenue C. capital expenditure exceeds revenue D. recurrent expenditure exceeds capital expenditure ANSWER: B (recurrent expenditure exceeds revenue) 18. Under flexible exchange rates, a deficit could be corrected by A. freezing the gold point B. appreciation of other currencies C. removing export subsidies D. removing tariffs ANSWER: B (appreciation of other currencies) 19. If W stands for wages/salaries, P for profits, R for interest and Z for rent on land and real estate, then national income is A. WPRZ B. W+P+Z-R C. PRZ+W D. W+P+R+Z ANSWER: D (W+P+R+Z) 20. A made obstacle to economic development is A. a rise in industrial output B. low farm productivity C. free trade D. ineffective trade union *_For Your Legit Jamb/Waec/Neco etc Assistance Call/WhatsApp ExamGod 07032599536_* ANSWER: B (low farm productivity

𝐄𝐗𝐀𝐌𝐆𝐎𝐃: *JAMB POSSIBLE QUESTIONS & ANSWERS FOR ECONOMICS* 1. Developments outside a given firm that reduce the firm’s costs are called A. internal economics B. external economics C. external diseconomies D. optimum effects ANSWER: B (external economics) 2. If at 10K per kg, 1000kg of yam were purchased, the resultant point elasticity of demand is A. 0.33 B. 0.0001 C. 1 D.10000 ANSWER: C (1) 3. A situation in which all inputs are doubled and output also doubles is known as A. constant proportions B. increasing returns to scale C. constant returns D. constant returns to scale. ANSWER: D (constant returns to scale) 4. Economic goods are termed scarce when they are A. not available in sufficient quantities to satisfy all wants for them B. not produced in sufficient quantities to satisfy the effective demand for them C. of high quality D. of primary importance in satisfying the needs of society. ANSWER: A (not available in sufficient quantities to satisfy all wants for them) 5. Which of the following situations can give rise to economic problems A. unlimited human wants B. wants of varying importance C. limited means available for satisfying wants D. means used in different ways ANSWER: C (limited means available for satisfying wants) *_For Your Legit Jamb/Waec/Neco etc Assistance Call/WhatsApp ExamGod 07032599536* 6. In the long run, all production factors are A. fixed B. semi-fixed C. variable D. semi-variable ANSWER: C (variable) 7. The advantage that firms obtain directly from expanding their operations is referred to as A. internal economies of scale B. external economies of scale C. economics of localization D. economies of resource allocation ANSWER: A ( internal economies of scale) 8. The effect of changes in the condition of demand on a demand schedule with the price constant is a A. movement along the demand curve B. deflation of the demand curve C. hyperbola formation by the demand curve D. shift of the demand curve ANSWER: D (shift of the demand curve) 9. If a demand curve that intersects a perfectly inelastic supply shifts rightward, then A. the equilibrium price and quantity will increase B. only the price will increase C. only quantity will increase D. the price will remain constant ANSWER: B (only the price will increase) *_For Your Legit Jamb/Waec/Neco etc Assistance Call/WhatsApp ExamGod 07032599536* 10. If the cost of production for a firm continues to increase as its output rises, the firm is said to be experiencing A. a large scale of production B. profit maximization C. economies of scale D. diseconomies of scale ANSWER: D ( diseconomies of scale) 11. Economic goods are termed scarce goods when they are A. not available in sufficient quantity to satisfy all wants for them B. not produced in sufficient quantities to satisfy the effective demand of them C. of high quality D. of primary importance in satisfying the needs of a society ANSWER: A (not available in sufficient quantity to satisfy all wants for them) 12. If units of a variable factor are increasingly added to a fixed factor and the marginal physical product keeps increasing, production is said to be taking place under condition of A. increasing returns to the variable factor B. increasing returns to scale C. constant return to the variable factor D. external economies of scale ANSWER: B (increasing returns to scale) 13. The ordinary partner in a partnership A. takes no active part in the management of the business B. has limited liability in case of business C. has unlimited liability in case of business failure D. cannot be sued personally on matters relating to the business ANSWER: C (has unlimited liability in case of business failure) 14. A possible factor which limits the extent of growth of a firm is the A. existence of a monopoly B. bureaucratic delays in decision making C. use of by-products D. unwillingness to share ownership and control ANSWER: D ( unwillingness to share ownership and control)

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*UPDATE* *JAMB ENABLES CHANGE OF SUBJECT COMBINATION PORTAL FOR THE 2024/2025 UTME EXAM* _This is to inform all prospective UTME applicants of the 2024/2025 session that they can now proceed to do a change in subject combination if they made mistake in any subject during_ registration _exercise _ _kindly visit a CBT center to make the appropriate corrections._

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*How to Print JAMB Mock Exam Slip*. _Go to JAMB Mock exam slip printing portal._ _Supply your JAMB registration number or email address in the required column._ _Finally, click on 'Print Examination Slip' button to access/print your Mock Unified Tertiary Matriculation Examination slip._ *The portal link* 👇👇👇👇 https://slipsprinting.jamb.gov.ng/PrintMockExaminationSlip *Note* *I will advise you to visit the cybercafe center for the reprinting of your jamb mock slip*

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*The National Business and Technical Examinations Board (NABTEB) has released the results of the Ordinary and Advanced Levels Craft Certificate Examinations held for private candidates between November 6 and December 9, 2023.*

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*NECO GCE RELEASES 2023 NOV/DEC GCE RESULT*

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