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Economics Past Questions

Study and practice Economics past questions with answers and detailed explanations. Then test your knowledge using our interactive CBT practice platform and prepare confidently for your upcoming examinations.

4,545 questions JAMB 2540 WAEC 1723 NECO 272 CUSTOM 10
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Past Questions

4,545 questions
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Question 1 of 20 4,545 total questions
Question 1541
waec 1999
The system whereby goods are exchanged for goods is known as
Astock exchange
Bbarter system
Cbanking
Dco-operative system
View Explanation & Discuss
Question 1542
waec 1999
which of the following best describes capital as a factor of production?
Aa natural resources found everywhere
Ba stock of physical assets used for production
Cthe organization of human and material resources for production
Dresources used in training labour
View Explanation & Discuss
Question 1543
waec 1999
every society strive to pursue all the following economic objectives except
Aincrease production
Bprice stability
Can inequitable distribution of income
Dsustainable growth and income
View Explanation & Discuss
Question 1544
waec 1999
The price elasticity of coefficient indicates
Ahow far business can reduce cost
Bthe degree of competition
Cthe extent to which curve shifts
Dconsumer responsiveness to price changes
Enone of the above
View Explanation & Discuss
Question 1545
waec 1999
The money payment made to owners of land and labour are
Arent and wages
Binterst and profits
Cwages and interest
Ddidvidends and salary
Etax
View Explanation & Discuss
Question 1546
jamb 1999
Calculate the total number of people engaged in tertiary production from the data above
A5,000,000
B6,250,000
C11,750,000
D12,250,000
View Explanation & Discuss
Question 1547
jamb 1999

Use the diagram above to answer this question. Identity the three Important factors that can make So to become either S1 or S2

ATechnology, weather and population
BTechnology, price and tastes
CWeather, price and technology
DPopulation, weather and taste
View Explanation & Discuss
Question 1548
jamb 1999
Use the diagram above to answer this question. Points E6 and E5 are respectively equilibrium points for
ADo and So D o and S2
BD1 and S2; D2 and So
CD2 and S1;D2 and S2
DD2 and SoDo and S2
View Explanation & Discuss
Question 1549
jamb 1999
In the diagram above, the consumer attains equilibrium at point
AG
BH
CJ
DK
View Explanation & Discuss
Question 1550
jamb 1999
The graphs illustrate
Ajoint demand
Bderived demand
Ccomposite demand
Dcompetitive demand
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Question 1551
jamb 1999
In the table, the income elasticity of clothing is
A0.5
B2.0
C2.5
D5.0.l
View Explanation & Discuss
Question 1552
jamb 1999
From the table calculate the national income
AN18,500m
B19,000m
C19,500m
D20,500m
View Explanation & Discuss
Question 1553
jamb 1999

The most acceptable economic measure for trade protection is to?

Aimprove standards of living
Bprotect infant industries
Csafegard strategic industries
Dpromote foreign trade
View Explanation & Discuss
Question 1554
jamb 1999
Favorable terms of trade is important to a country because it facilities?
Aeconomic prosperity for importers and exporters
Bexport of hard currency by the government
Ceconomic prosperity for country
Dimport of hard currency by the government
View Explanation & Discuss
Question 1555
jamb 1999
Gains from trade depends on?
Acomparative advantage
Babsolute advantage
Cdistributive cost advantage
Dabsolute cost advantage
View Explanation & Discuss
Question 1556
jamb 1999
De valuation helps in checking adverse balance of payments if the?
Ademand for imports is elastic
Bdemand for imports is inelastic
Csupply of exports is elastic
Ddemand for exports is inelastic
View Explanation & Discuss
Question 1557
jamb 1999
A free trade area emerges when?
Atraders from one part of the country can move freely to other parts
Bcustoms regulation are harmonized among countries
Ca group of countries decide to remove restrictions on imports from one another
Dthe UNCTAD is in force
View Explanation & Discuss
Question 1558
jamb 1999
The price of a good will not be affected by the imposition of a sales tax on it if the?
Asupply is inelastic
Bdemand is inelastic
Csupply is perfectly elastic
Ddemand is perfectly elastic
View Explanation & Discuss
Question 1559
jamb 1999

Economic development may be defined as economic growth?

Ain a given country
Bover a long period
Cand improved health facilities
Dand improved distribution of wealth
View Explanation & Discuss
Question 1560
jamb 1999
Fiscal policy involves changes in?
Aopen market operations
Brevenue and expenditure of government
Cmoney supply to the economy
Dimports and exports
View Explanation & Discuss
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