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.
all the following are source of finance to a Joint Stock Company except
Abank loans
Bequity shares
Cdebentures
Dpreference shares
Ecooperative thrift
View Explanation & Discuss
Question 1953
waec1989
money supply at any given point in time refers to as
Abank notes, coins abd demand deposits
Bnotes and coins only
Cminted money
Dhoarded money
Emoney received as gifts
View Explanation & Discuss
Question 1954
waec1989
In Economics market is define as
AA place where buyers and sellers come together to exchange goods
BAny agreement made for consumers to buy all they need
Cany arrangement made for producers to sell all their goods
Dany arrangement where by buyers and sellers are in close touch with one another
Ea place where only consumer goods are sold
View Explanation & Discuss
Question 1955
waec1989
An inflation in which the price rises steadily at an average rate of about 2% per annum is best described ad
AGalloping
BInduced
CCreeping
DSuppressed
ERun-away
View Explanation & Discuss
Question 1956
waec1989
The greatest disadvantages f barter system is the need for
ADurability
BDivisibility
CHomogeneity
DDouble coincidence of wants
EPortability
View Explanation & Discuss
Question 1957
waec1989
A table which shows the price of a commodity and the quantity of it that is demanded per unit time is a
ATime series
BDemand series
CDemand curve
DDemand schedule
ETime schedule
View Explanation & Discuss
Question 1958
waec1989
Scarcity in Economics means that resources
AAre not enough to share among producers of goods and services
BNeeded to satisfy human wants are limited
CAre never enough to share among consumers of goods and services
DRequired to meet our essential wants are unlimited
ECan be managed if those who use them can behave rationally
View Explanation & Discuss
Question 1959
jamb1989
The multiplier is defined as
AThe ratio of the change in income to the change in investment
BThe change in investment divided by the change in income
C\(\frac{1}{MPC}\)
D\(\frac{1}{1-\text{MPS}}\)
View Explanation & Discuss
Question 1960
jamb1989
The amount, N4.08 million, shown as balance in the table represents
Aterms of payments
Bbalance on current accounts
Cbalance of trade
Dterms of trade
View Explanation & Discuss
Question 1961
jamb1989
The table gives the various levels of output (Q) and its corresponding total cost of production. (ITC) and total revenue (TR) for a firm. Which output level Q results in maximum profit?
A400
B500
C600
D700
View Explanation & Discuss
Question 1962
jamb1989
In the diagram above what happens when the minimum wage is fixed at OW?
AUnemployment is reduced
BUnemployment results
CThe demand schedule will shift
Dthe supply schedule will become steeper
View Explanation & Discuss
Question 1963
jamb1989
If the curve above shows the relationship between the price of commodity X and the quantity demanded of commodity Y then X and Y are
Acomplementary goods
Bsubstitutes
Cinferior goods
Dluxury goods
View Explanation & Discuss
Question 1964
jamb1989
The primary goal of development planning in Nigeria is to?
Aincrease profitability of enterprises
Bachieve a rapid increase in the welfare and standard of living of Nigerians
Cincrease the level of gross domestic product
Dmake Nigeria a super-power
View Explanation & Discuss
Question 1965
jamb1989
A sustained increase in the per capita income of a country over a period of time is called?
Aeconomic growth
Beconomic development
Cstructural change
Dstagflation
View Explanation & Discuss
Question 1966
jamb1989
If C stands for consumption expenditure, I for investment, X for exports, and M for imports, then national income is?
AC + I + X + M
BC + I +X - M
CC + I - X + M
DC + I + X
View Explanation & Discuss
Question 1967
jamb1989
The value of the total output produced within Nigeria by all residents (citizens and non-citizens) is referred to as the?
Agross national product
Bdisposable income
Cnational income
Dgross domestic product
View Explanation & Discuss
Question 1968
jamb1989
The difference between gross national product and net national product is equal to?
Agross investment
Bnet investment
Cnet foreign income
Dcapital depreciation
View Explanation & Discuss
Question 1969
jamb1989
The group of people engaged in banking or insurance services by occupational distributions are classified as?
Aprimary producers
Bsecondary producers
Ctertiary producers
Dtechnical producers
View Explanation & Discuss
Question 1970
jamb1989
Optimum population is the population level at which?
