Economics Past Questions

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49 questions JAMB 2540 WAEC 1723 NECO 272 CUSTOM 10
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Past Questions

49 questions
Question 1 of 20 49 total questions
Question 1
jamb 2012

From this diagram, the minimum wage OW will lead to

Afull employment of resources
Bunemployment
Cinflation
Dfull employment of factors of production
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Question 2
jamb 2012

To move from point M to K, the consumer has to increase the

Aconsumption of X and reduce the consumption of Y
Bexpenditure on Y
Cexpenditure on X
Dconsumption of Y and reduce the consumption of X
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Question 3
jamb 2012

The consumer is at equilibrium at point

AN
BP
CM
DK
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Question 4
jamb 2012

From the above, calculate the price elasticity of demand

A5.0
B2.0
C1.0
D0.5
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Question 5
jamb 2012

If the GDP is N60 billion, what is the difference between the contributions of oil and manufacturing sectors?

AN11.7 billion
BN13.3 billion
CN21.7 billion
DN26.6 billion
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Question 6
jamb 2012

The percentage contribution of Agricultural sector is

A67.5
B40.0
C32.4
D25.0
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Question 7
jamb 2012

The reward on machinery and equipment in the process of production is known as

Aprofit
Binterest
Crent
Dwages
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Question 8
jamb 2012

One of the functions of ECOWAS is to

Aprovide funds for infrastructural development
Bdetermine prices of exports
Credistribute income among citizens
Dprovide employment for citizens of member nations
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Question 9
jamb 2012

A deficit balance of payments is measured by subtracting the debits from the credits in the

Acurrent account
Bcurrent and capital accounts
Ccurrent and escrow accounts
Dcapital and escrow accounts
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Question 10
jamb 2012

In a village of 50 persons, 10 immigrated, 25 died and 5 emigrated in year. Determine the total population

A10
B20
C30
D50
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Question 11
jamb 2012

The Malthusian theory was concerned about the relationship between

Apopulation growth rates of the rich and the poor nations
Bpopulation density and national income
Cpopulation growth rate and natural resources
Dage distribution of population
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Question 12
jamb 2012
A policy aimed at enhancing globalization of the Nigerian economy is
Aindigenization
Bdereglation
Ccommercialization
Dprivatization
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Question 13
jamb 2012
Long-term funds for investment projects are sourced from the
Amoney market
Bcommodity market
Cforeign exchange market
Dcapital market
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Question 14
jamb 2012
A change in the pump price of petrol in Nigeria has a direct effect on the
Aprices of consumer goods
Bprices of essential goods
Ccost of raw materials
Dcost of transportation
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Question 15
jamb 2012

An important contribution of small-scale industries to the Nigerian economy is in the area of

Atechnological development
Bforegin exchange earnings
Craw materials processing
Dlabour employment
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Question 16
jamb 2012

A sugar industry is best located near the source of

Alabour
Braw materials
Cpower
Dcapital
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Question 17
jamb 2012

A strategy for improving agriculture in Nigeria will involve

Acontrolling the prices of agricultural products
Bensuring self-sufficiency in food production
Creducing agricultural exports
Destablishing commondity boards
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Question 18
jamb 2012

An emerging agricultural export crop in Nigeria is

Acassava
Bcotton
Ccocoa
Dsoya beans
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Question 19
jamb 2012

The primary reason for desiring economic growth is to

Acontrol inflation
Breduce poverty
Credistribute income
Draise standard of living
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Question 20
jamb 2012
Rapid economic development in Nigeria is realizable by
Acontinuous dependence on oil
Bconcentrating more on agriculture
Cdeveloping the tourism industry
Ddiversifying the economy
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