PassSpark

JAMB UTME Economics 2000 past questions and answers

This 2000 JAMB UTME Economics set has 40 practice questions. Try these 5 free sample questions, tap a question to reveal the answer and explanation. Then practise the whole 2000 set with instant marking.

Practise the full 2000 setTimed exam mode

Sample JAMB UTME Economics 2000 questions

1. Economics is primarily concerned with how people and societies
  1. allocate scarce resources among competing wants
  2. eliminate all human wants
  3. produce only goods for export
  4. ensure that every person earns the same income

Answer: A. allocate scarce resources among competing wants

Economics studies choices about allocating scarce resources among competing wants.

2. A student spends an evening studying instead of working for ₦2,000; the opportunity cost of studying is
  1. the cost of the student's textbooks
  2. the ₦2,000 income forgone
  3. the student's examination fee
  4. the total value of all the student's wants

Answer: B. the ₦2,000 income forgone

Opportunity cost is the value of the best alternative sacrificed, which is the forgone ₦2,000 wage.

3. A production possibility curve bowed outward from the origin illustrates
  1. constant opportunity cost
  2. unlimited productive resources
  3. increasing opportunity cost
  4. a fall in total production whenever resources are fully used

Answer: C. increasing opportunity cost

A bowed-out production possibility curve shows that progressively more of one good must be sacrificed to produce extra units of another.

4. Which of the following is a normative economic statement?
  1. The price of rice rose last month.
  2. A tax increase reduced household spending.
  3. Unemployment is higher in the city than in the village.
  4. The government ought to provide free transport for students.

Answer: D. The government ought to provide free transport for students.

The word 'ought' expresses a value judgement rather than a testable description.

5. One likely effect of division of labour in a factory is that workers
  1. become more proficient at their specialized tasks
  2. each make the whole product from start to finish
  3. no longer need tools or machinery
  4. produce fewer units because tasks are repeated

Answer: A. become more proficient at their specialized tasks

Repeated practice in a specialized task usually increases workers' skill and productivity.

More JAMB UTME Economics years

20262025202420232022202120202019201820172016201520142013201220112010200920082007200620052004200320022001

All JAMB UTME Economics years · JAMB UTME subjects

PassSpark questions are original practice questions written to each exam's syllabus and format, in the style of past questions. They are not official past papers and are not affiliated with JAMB, WAEC, NECO, any university or any exam body.