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JAMB Economics Past Questions and Answers

975 questions from 18 JAMB Economics papers, 1990 to 2025. Pick a year to see 10 of its questions with answers.

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Sample questions from JAMB 2025

JAMB 2025Question 1 · Basic Economic Concepts and Systems
The Consumers Co-operative society is owned by?
  1. A.Members of the society
  2. B.Debenture holders
  3. C.A management committee
  4. D.The government
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Answer: A. Members of the society

JAMB 2025Question 2 · Demand, Supply, and Market Structures
Which of the following will shift the demand curve for cocoa to the right?
  1. A.An increase in consumers' income
  2. B.A rise in the price of cocoa
  3. C.A fall in the quantity demanded of cocoa
  4. D.A tax on cocoa producers
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Answer: A. An increase in consumers' income

JAMB 2025Question 3 · International Trade
A country's balance of payments is in deficit when
  1. A.a country's payments for imports of invisible goods are greater than her receipts from exports of invisible goods
  2. B.the total receipts from her export of visible and invisible goods are greater than her payments for visible and invisible imports
  3. C.the total payments for visible and invisible imports are greater than the total receipts from her exports of visible and invisible goods
  4. D.It can record a surplus on current account of her balance of payments accounts
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Answer: C. the total payments for visible and invisible imports are greater than the total receipts from her exports of visible and invisible goods

JAMB 2025Question 4 · Money, Banking, and Public Finance
The transfer of ownership of a public enterprise to individual and firms is called
  1. A.restructuring
  2. B.Commercialization
  3. C.nationalization
  4. D.privatization
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Answer: D. privatization

JAMB 2025Question 5 · National Income and Economic Planning
In calculating the Gross National Product (GNP) by the income approach, all the following are included except
  1. A.direct taxes paid by persons and companies
  2. B.wages and salaries
  3. C.rents on houses
  4. D.retirement benefits
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Answer: A. direct taxes paid by persons and companies

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