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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.

90 questions JAMB 2540 WAEC 1723 NECO 272 CUSTOM 10

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Past Questions

90 questions

Question 1 of 20 90 total questions

Question 11

jamb 2018

The policy by which government encourages producers of export goods to produce and export more in order to earn more foreign exchange is called__________

ASales promotion

BTerm of trade

CExport promotion

DInternational trade

View Explanation & Discuss

Question 12

jamb 2018

Given the table, if the total budget of the country to be 100 million naira, what is the ratio of expenditure on manufacturing to agriculture?

A1:2

B3:2

C2:1

D2:3

View Explanation & Discuss

Question 13

jamb 2018

Import duty and tariffs is an instrument used for international trade restriction and so is __________?

APreferential duties

BPreferential treatment

CEntreport

DTrade license

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Question 14

jamb 2018

The following are types of capital except:___________

ACurrent capital

BSaving capital

CWorking capital

DSocial capital

View Explanation & Discuss

Question 15

jamb 2018

From table, how many people scores above 6?

A25

B24

D30

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Question 16

jamb 2018

The bank type responsible for the formulation of rules and regulations guiding the banking industry is known as?

ACommercial bank

BCentral bank

CMortgage bank

DMerchant bank

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Question 17

jamb 2018

X	2	3	4	5
F	2	5	2	1

From the table, the mean of the distribution is___________

A2.2

B2.5

C3.2

D4.5

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Question 18

jamb 2018

When a union is composed of workers with the same skill , it is called____________

AAn industrial union

BA workers union

CA craft union

DA technical union

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Question 19

jamb 2018

One of the major forms of migration that tends to create problem in all developing countries is that of___________

ARural-urban migration

BRural-rural migration

CUrban-rural migration

DSeasonal migration

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Question 20

jamb 2018

A group formed to enable members adopt a common policy in labour negotiation is known as?

AEmployer’s association

BCraft Union

CTrade union

DEmployee’s union

View Explanation & Discuss

Question 21

jamb 2018

The use of income and expenditure instruments or policies to control or regulate the economic activities of a country is known as?

ARevenue generation

BEconomic development

CFiscal Policy

DTaxation

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Question 22

jamb 2018

The establishment of industries in rural areas will help to reduce____________-

AUrban-Rural migration

BRural-Urban migration

CRural-Rural migration

DUrban-Urban migration

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Question 23

jamb 2018

The population density of a town made up of 50 square kilometer land area and 100 million people is________

A50,000 people per square kilometer

B2 million people per square kilometer 

C0.5 million people per square kilometer

D20 million people per square kilometer

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Question 24

jamb 2018

Which of the following is an invisible item?

APetroleum services

BProcessed rice

CProcessed milk

DBanking services

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Question 25

jamb 2018

A country's budget allocation to various sectors of the economy is shown in the pie chart .
What is the ratio of expenditure of health to Agriculture?

A2:3

B3:4

C4:3

D5:4

View Explanation & Discuss

Question 26

jamb 2018

The number of people who are qualified to work and who offer themselves for employment is called____________?

AMigrant labour

BWorking population

CLabor turnover

DMobility of Labour

View Explanation & Discuss

Question 27

jamb 2018

X	8	10	12	16	18	20	24
F	2	1	4	3	3	1	6

From the table, Calculate the mean?

A24.0

B17.0

C18

D27.2

View Explanation & Discuss

Question 28

jamb 2018

The formula (index of export prices)/(index of import prices) x 100 is used to measure the____________

AVolume of trade between countries

Bdirection of international trade

Ccommodity terms of trade

Dvolume of imports

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Question 29

jamb 2018

The study of Economics becomes necessary because of the______________

ALarge population size of the world

BScarcity of resources

COpportunity cost of goods and services

DNeed to satisfy every desire of man

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Question 30

jamb 2018

Efficiency of labour in a country is determined by the following except the____________

ASocial attitude to work

BEducation and training

CTotal population

DWorking conditions of workers

View Explanation & Discuss

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