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What will Jamb set in Economics for 2026 UTME and what are the top hot likely questions to come out in Jamb Economics? Continue reading for important 2026 Jamb CBT Economics Questions and Answers Expo.
The Questions and answers will cover Every Chapter in Jamb Economics and Questions are Arranged Topic by Topic.
Jamb Economics Questions And Answers
- 1. The residual of production which acquires to the ownership of loans after all other expenses have been met is called ___
Answer: Rent
- 2. The downturn in the price of shares on stock markets is a highlight or ___
Answer: The regulatory nature of the market
- 3. What is the effect of decrease in supply where demand is constant?
Answer: Increase in price, decrease in quantity.
- 4. To control inflation, the monetary authority of a company can ___
Answer: Engage in a restrictive monetary policy.
Likely JAMB Cbt Financial Accounting Questions and Answers for 2026/2027
- 5. Natural growth rate can be calculated by?
Answer: Natural growth rate = Death rate + Net immigration
- 6. In the analysis of utility theory, the basic of demand is ___ Answer: Diminishing utility
- 7. In the money market, money can only be borrowed for ___
Answer: Short term
- 8. The consumers co-operative society is owned by
Answer: Members of the society
- 9. Find the median of the following set of score, 8,9,6,5,10
Answer: Median is the middle number after all the numbers are arranged in ascending or descending order. Arranging, we have 5,6,8,9,10. Therefore, the media in 8
- 10. In a public company, entrepreneurship functions are performed by the ___
Answer: Board of directors
- 11. One major export crop in West Africa is ____ Answer: Cocoa
- 12. …… expresses relationship between the dependent and independent variable.
Answer: Functions
- 13. Macroeconomics was made popular by
Answer: John M. Kaynes
- 14. Distribution of goods and services is hindered by ____
Answer: Too many middlemen (and other factors).
- 15. Census of population is usually conducted every ___
Answer: 10 years
- 16. Which bank is known as post office bank? Answer: Merchant Bank
- 17. A firm’s main aim is to
Answer: Maximise profits
- 18. In a socialist economy, factors of production are owned and controlled by the
Answer: Government.
- 19. The market where buyer and sellers of currency meet is known as
Answer: Foreign exchange market
- 20. Taxes which are levied on a person’s expenditure are known as
Answer: Purchase tax
- 21. The additional revenue obtained by using one more unit of a factor is called ___
Answer: Marginal Revenue product
- 22. A firm’s compulsory cost is referred to as its
Answer: Fixed Cost
- 23. The assumption of economic analysis are …….. and …..
Answer: Rationally and other things being equal
- 24. A firm is at its optimum size when
Answer: It produces the greatest output at the minimum.
- 25. When a variable is associated with time period, it is?
Answer: A flow
- 26. The full meaning of OPEC is
Answer: Organization of Petroleum exporting countries.
- 27. State-owned enterprises are more common in Centrally planned economies
- 28. Commercial banks are example of joint stock banks
- 29. Efficiency of labour is enhanced by Improved working condition and training
- 30. The production strategy used in over populated country is Labour intensive.
- 31. Internal trade has general effect on ….. of a country.
Answer: GDP
- 32. West African economies can be described as?
Answer: Agricultural.
- 33. The headquarters of the African Development Bank (ADB) was originally located in Abidjan
- 34. ….. is the measurement of steepness of the line or curve that emerges on the graph.
Answer: Slope
- 35. Banks create money by…
Answer: Lending out deposits to borrowers
- 36. The situation whereby government revenue is less than government expenditure is referred to as
Answer: Budget deficit
- 37. ….. and …. of goods and factors of production brought the existence of price
Answer: Scarcity and usefulness
- 38. The most common form of business in West Africa is the
Answer: Sole proprietorship
- 39. The terms of trade simply mean the price ratio of
Answer: export to import.
- 40. The tax imposed on goods produced within the country is An EXCISE TAX
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Likely JAMB Cbt Financial Accounting Questions and Answers for 2026/2027
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