Post UTME PreDegree Admission 2021 UTME

Post UTME PreDegree Admission 2021 UTME

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Practice JUPEB ECONOMICS – MSS – J133 Past Questions Essay and Objectives

Practice JUPEB ECONOMICS – MSS – J133 Past Questions Essay and Objectives

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JOINT UNIVERSITIES PRELIMINARY EXAMINATIONS BOARD

2015 EXAMINATIONS ECONOMICS – MSS – J133

Register Your Business or Company Name With CAC

MULTIPLE   CHOICE  QUESTIONS                                                                                                       

1. The fundamental problem of economics is

A.   The  establishment  of  a  political  framework  to  determine  the  what,  how  and  for

whom of production

B.   To establish an equitable distribution of income

C.   The scarcity of productive resources relative to society’s unlimited wants D.   Finding striking determinants between the forces of supply and demand.

2. Economic problem occurs when

A.  There is scarcity relative to demand B.   There are no buyers for our goods

C.   Many people are out of work D.   All raw materials are imported

3. Economic goods are termed scarce goods when they are

A.  Not available in sufficient quantities to satisfy effective demand for them  B.   Not produced in sufficient quantities to satisfy effective demand for them C.   Of high quality 

D.   Of primary importance in satisfying the needs of a society.

4. The demand for a good is price inelastic if A.   The price elasticity is one

B.   The price elasticity is less than one

C.   The price elasticity is greater than one D.   The price elasticity is negative

5.The type of unemployment that occurs when an individual cannot find job as a result of 

    obsolete skill is

A.  Frictional unemployment   B.   Structural unemployment   C.   Cyclical unemployment  

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Post UTME PreDegree Admission 2021 UTME

Post UTME PreDegree Admission 2021 UTME

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D.   Seasonal unemployment

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