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.

1,723 questions JAMB 2540 WAEC 1723 NECO 272 CUSTOM 10
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Past Questions

1,723 questions
Question 1 of 20 1,723 total questions
Question 221
waec 2017

A demand curve parallel to the Y-axis indicates

Afairly elastic demand
Bperfectly elastic demand
Cperfectly inelastic
Dfairly inelastic demand
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Question 222
waec 2017

The difference between demand and wants is in the

Adesire for the commodity
Bsignificance of the commodity
Cability to pay for the commodity
Deconomic value of the commodity
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Question 223
waec 2017

if the coefficient of cross elasticity of demand for goods Y and Z is positive, the two goods are?

Acomplements
Bsubstitutes
Cluxurious
Dinferior
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Question 224
waec 2017

if the weight of five puppies in kilograms are 3.5, 3.0, 4.2, 5.0 and 4.3, then mean weight of the puppies is?

A3.5 kg
B4.0 kg
C4.2 kg
D5.0 kg
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Question 225
waec 2017

in a market economy, the problem of what goods to produced is solved primarily by

Adirectives of the government
Bthe pattern of consumers spending
Cproducers of consumer goods
Dpeople producing what they want
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Question 226
waec 2017

which of the following items is not an example of circulating capital

Araw material
Bmoney
Cfuel
Dmachinery
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Question 227
waec 2017

the opportunity cost of a worker going to the university  is

Atuition, fees and books
Bboarding and lodging
Cthe wages given up to attend the university
Dtransportation and entertainment
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Question 228
waec 2017

Economics is regarded as a science because?

Aits issues can be easily verified by reference to facts
Bit adopts scientific methods in making its analysis
Cits issues are relevant for national development
Dits subject matter studies human behaviour
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Question 229
waec 2016

Which of the following international organizations is concerned with the stabilization of the balance of payments? the

AInternational Monetary Fund (IMF)
BWorld Bank (IBRD)
CUnited Nations Organization (UNO)
DEconomic Commission for Africa (ECA)
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Question 230
waec 2016

When a number of countries agree to remove all trade barriers among themselves and at the same time charge a common tariff against non member countries, it known as

Afree trade area
Bcommon market
Ccustom union
Deconomic community
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Question 231
waec 2016

One of the physical measures that can be used to reduce the volume of imports is the

Areduction of personnel income tax
Bremoval of imports duties
Cuse of foreign exchange control
Dliberalization of credit for importers
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Question 232
waec 2016
When the international value of a country's currency rises, other things being equal, the country's
Anet exports tend to increase
Bimports tend to increase
Cnet exports tend to decrease
Dexport tend to be stable
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Question 233
waec 2016

Balance of payment surplus implies that receipts for exports are

Aat par with payments for imports
Bgreater than payment for imports
Cless than payment for imports
Dproportional to payments for imports
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Question 234
waec 2016

The rate at which a country's export is exchanged for her imports is

Atrade balance
Bbalance of payment
Cterm of trade
Dbalance on current account
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Question 235
waec 2016

The principle of comparative cost advantage was propounded by

ADavid Ricardo
BAlfred Marshal
CJ. S Mill
DAdam Smith
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Question 236
waec 2016

Which of the following is not a major problem of development

Ashortage of skilled manpower
Binadequate data for planning
Cpolitical instability
Dpoor identification of projects
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Question 237
waec 2016

Which is following is a cause of under-development in West Africa

AAvailability of manpower
Bincreasing population
Chigh rate of capital formation
Dlarge size of market places
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Question 238
waec 2016

Fiscal policy that can control inflation will include the use of

Abalanced budgeting
Btax holidays
Cbudget deficit
Dbudget surplus
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Question 239
waec 2016

Indirect taxes are generally

Aprogressive
Bregressive
Cequitable
Dproportionate
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Question 240
waec 2016

The stock market is a market for

Anew and second hand shares
Bdebentures
Cgoods and services
Dshort terms securities
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