• Some more hard questions from 2014 Economics

    Economics

    Admin Admin
    23-01-2016 06:40:00 +0000

    The economics questions below presented a challenge for over 80% of the students that attempted them. What's more, these questions have appeared several times on previous JAMBs so it's important all Jambites have a clear understanding of these topics.


    Question 48) The main objective of WTO is to :
    A) assist countries with chronic balance of payments problem
    B) assist developing countries to execute developmental projects
    C) ensure adequate protection for infant industries
    D) provide a mechanism for tariff reduction



    Question 22) A perfect competitor will continue to expand output up to the point where
    A) MC < MR
    B) - MC > MR
    C) - TC > TR
    D) - MR = AR


    UPDATED -ANSWERS TO ABOVE QUESTIONS

    Q48:
    B - World Trade Organisation (WTO) is an international organization dealing with the global rules of trade between nations. its main function is to ensure that trade flows as smoothly, predictably, and freely as possible. The main objective of WTO is assist developing countries to execute developmental projects.

    Q23:
    A - MC < MR



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