IJMB Economics 101 Past Questions 2014; This IJMB Economics 101 past question is suitable for students about to sit for the upcoming IJMB EXAMINATION. Students should be informed that IJMB is an advanced-level program that helps students secure admission into the university of their choice without JAMB.
Recommended; See Other IJMB Past Questions Here
IJMB Economics 101 Past Questions 2014
INTERIM JOINT MATRICULATION BOARD EXAMINATION 2014
SUBJECT: ECONOMICS PAPER I
DATE SCHEDULED: FRIDAY 14th FEBRUARY 2014
TIME ALLOWED: THREE HOURS (3 HRS)
INSTRUCTIONS: Answer FOUR (4) questions only. All questions carry equal marks. Credit will be given for good English and orderly presentation of materials. The calculator can be used if desired.
- a) Define the concept of a price system.
- a) The understanding of opportunity cost is simplified via the use of the production possibilities curve. Discuss.
b) How does Economic Growth occur in the production possibilities curve?
3. Distinguish between;
I Micro and Macro Economics
Ii. Using a diagram differentiate between change in demand and change in quantity demanded.
4. State the basic features of subsistence and capitalist economy.
5. a) Define the concept of an oligopolistic industry.
b) List and explain the characteristics of an oligopolistic industry.
6. a) Define the concept of women’s entrepreneurship
b) Enumerate the measures that can be taken in promoting women’s entrepreneurship.
