2020 JAMB CBT ECONOMICS QUESTIONS AND ANSWERS (14th) Economics
*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.
*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____
Answer: Centrally planned economies*
*28. Commercial banks are example of___
Answer: joint stock banks*
*29. Efficiency of labour is enhanced by Improved____
Answer: working condition and training*
*30. The production strategy used in over populated country is__
Answer: 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____
Answer: 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
Answer: excise tax
NOTE:
1. YOUR NUMBER TEN(10) QUESTION CAN BE YOUR
BROTHER S NUMBER TWENTY-FIVE {25} QUESTION.
2. DON T SPREAD THIS QUESTIONS AND ANSWERS TO
ANYONE.
We generally accept the WASSC or NECO with a minimum of 5 relevant subjects at grade B3. If you are currently studying another UK foundation programme elsewhere and would like to progress to one of our Bachelor degrees, please get in touch via the contact details at the bottom of the page.
WAEC internal can be easier because you're have been well prepared for the papers most recently (SS1 to 3). People usually write GCE while they'd abandoned books for months - if not years. This may make it more difficult to pass. There are other reasons WAEC internal could be more convenient as detailed in this post.
The idea that C is the best answer to choose when guess-answering a question on a multiple choice test rests on the premise that ACT answer choices are not truly randomized. In other words, the implication is that answer choice C is correct more often than any other answer choice.
West African Examinations Council (WAEC) has announced that the General Certificate Examination (GCE) for private candidates will now be held twice a year starting in 2020.
Similar to WAEC, your National Examination Council (NECO) result (certificate) is valid for life. It doesn't have any expiry date. That is, for as long as you live, you can use your NECO result to gain admission into the university and seek employment where applicable.
The WAEC examination is open to both private and school candidates. ... Some universities in the USA accepts WAEC results from West African students. So, you need to meet their minimum requirements before you're offered admission into an American university.
The following are the approved fees for the examination and other related items: Registration fees ? 4,000.00 Naira (Mandatory fee) Late Registration ? 1,000.00 Naira per candidate ? (Mandatory fee) Re-Sit Exam ? 1,000.00 Naira per copy.
The answer is yes. NECO can be used to study abroad but not all schools abroad accept it. ... First of all, an applicant with a NECO result must sit for a proficiency English language exam such as GRE, IELTS, SAT, ACT, PSAT, TOEFL, GMAT, and the likes.
Although the 16 years age limit requirement for university admission has no legal backing, it has become the gold standard for some universities in Nigeria, which had in their post-Unified Tertiary Matriculation Examination (UTME) advertorial stated that ?candidates, who will not be 16 years of age by October 31, 2018, ...
NECO SSCE External Candidates Original Result Slips Cost: The Sum of One Thousand Naira Only (N1,000). NECO SSCE External Candidates Issuance of Original Certificate Cost: The Sum of One Hundred Naira Only (N100).
Why Waec Gce is Far better than Neco Gce. ... 2: Grading: The marking scheme of Neco is totally different from that of Waec Gce and mostly students prefer writing Waec gce than that of Neco , Have you heard about C Parallel slogan, Student now call some board Exam Parallel Examination.
It is no news that many schools in Nigeria (especially private secondary schools) charge up to 50,000 naira and even above for waec registration in their respective centres. The normal price for WAEC SSCE Enrollment fee fixed by waec is within N13,950.
The most common reason why students forget is because the material is under learned. To remember something, it must first be learned, that is, stored in long-term memory. If you don't do what is necessary to get information into your long-term memory, you have under learned the material and forgetting is normal.
The basic requirements for collection of original certification is the verification of the candidate original O level result. Neck stand for national examination council and the original neck result is always available after 4 years.
Though Economics is a subject that cut across all departments in secondary, Economics is a core subject for commercial students. You can't escape Economics. Many schools may accept D7 or E8 in Mathematics and English for some courses but for Economics, you must have credit?
20?21 isn't much older than that. I'll go a step further and say that it's never too old to go to college. There's no cutoff date for an education. Sometimes life gets in the way of things and some people aren't able to attend college right away.
Private candidates can collect their certificates from WAEC directly at any of the WAEC offices nationwide. Applicants are required to present an application letter, a sworn affidavit from the High Court, the online result print- out, one passport-size photograph, photo card and identity card.
Generally speaking the best time for effective studying would be Morning (5AM to 10 AM) and Evening(5PM to 9 PM) . Reasons: Early morning is a time when there is very less movement of any form. You would be the only one awake in the house and there won't be any distractions.
21 isn't too old to start anything. Seriously though, who is going to be able to tell you are two years older. It's a none issue. It's probably a better time to start uni than an 18 year old in my opinion.
Postgraduate: University of the West Indies - A score of B, 65% or GPA of 3.0 is considered comparable to a UK 2.1, while a score of B-, 60% or GPA of 2.7 is considered comparable to a UK 2.2. ... A Level or CAPE grades will also be considered alongside degree scores.
It is no news that many schools in Nigeria (especially private secondary schools) charge up to 50,000 naira and even above for waec registration in their respective centres. The normal price for WAEC SSCE Enrollment fee fixed by waec is within N13,950.
NECO SSCE External Candidates Original Result Slips Cost: The Sum of One Thousand Naira Only (N1,000). NECO SSCE External Candidates Issuance of Original Certificate Cost: The Sum of One Hundred Naira Only (N100).
There isn't a GED equivalent, as the UK does not have a standard school-leaving test or qualification. High school students can take a number of different "A-levels", "International Baccalaureate", "Scottish Highers", "National Vocational Qualifications", etc.
It's hard to compare precisely. Matric covers a broad range of subjects like GCSEs do in the UK, which we write at 16. Matric is written at 18 and probably to a slightly higher standard than GCSE level but definitely below the A-Level exams we do at 18, when normally we only do 3-4 subjects.
Many UK universities will accept a high school diploma a with a high enough GPA and if a GED is equivalent then that would probably be accepted. ... Some American universities have a campus in the UK, the most well known is Richmond, the American International University in London.