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 231
waec 2016

Which of the following financial institutions cannot be found on the capital market of a country

Acommercial bank
Bmortgage bank
Cstock exchange
DAgricultural bank
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Question 232
waec 2016

Cost push inflation is likely to arise when

Athere is an increase in banking lending
Bthere is an increase in subsidies
Cstock exchange
Drise in the cost of production.
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Question 233
waec 2016

During Inflation, interest rate will

Arise
Bflunctuate
Cremain constant
Dfall
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Question 234
waec 2016

A bank note is said to be a legal tender because it is

Aprinted by government
Ba store of value
Csigned by the head of state
Dbacked by law
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Question 235
waec 2016

Which of the following items is not included in the measurement of the national income using the income approach

Awages and salary
Bgovernment purchases
Cinterest
Ddivedend
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Question 236
waec 2016

The difference between GDP and GNP

Aconsumption of fixed capital
Bindirect business tax
Cnet factor income from abroad
Dpublic transfer payment
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Question 237
waec 2016

The difference between GDP and GNP

Aconsumption of fixed capital
Bindirect business tax
Cnet factor income from abroad
Dpublic transfer payment
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Question 238
waec 2016

International income accounting, double counting occurs when

Aintermediate goods are counted twice
Bintermediate goods are counted with the final goods
Cfinal goods are counted more than twice
Ddifferent people count the products
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Question 239
waec 2016

Location of firm in rural areas may

Aenable the firm to enjoy existing infrastructural facilities
Bmake finance readily avalaible
Cenhance even or balanced development
Dmake such firm enjoy external economics of scale
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Question 240
waec 2016

Which of the following best explains why more foreign investments are not attracted to West Africa

ASmall population size
Bsmall sizes of market places
Cinstability in political and industrial policies
Dlack of manpower needed to work in industries
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Question 241
waec 2016

Which of the following will encourage capital intensive farming

Aencouraging communal system of land ownership
Badopting policies that will encourage rural-urban migration
Cprovision of subsidies on equipment
DRestrictive lending policies by banks
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Question 242
waec 2016

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

Asocial attitude to work
Beducation and training
Cworking conditions of workers
Dtotal polulation
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Question 243
waec 2016

One feature of a growing population

Aincrease in the number of young people
Bincrease in the number of old people
Cdecrease in the dependent population
Ddecrease in the life expectancy
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Question 244
waec 2016

One relationship between marginal utility and total utility. When total is 

Arising, marginal utility is rising
Bfalling, marginal utility is negative
Cmaximum, marginal utility is maximum
Dfalling, marginal utility is rising
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Question 245
waec 2016

The type of unemployment that occurs as a result physical or mental disability of labour is known as

Africtional unemployment
Bstructural unemployment
Ccyclical unemployment
Dresidual unemployment
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Question 246
waec 2016

Which of the following measures will hinder efficient distribution of goods in West Africa

AImproving roads networks
Bprovision of adequate storage facilities
Cinstituting price control
Dformation of producers' co-operative societies
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Question 247
waec 2016

Indigenization policy is a measure aimed at

Aprivating the existing business owned by the state
Bcommercializing state owned businesses
Creducing foreign economic domination
Dmaking the indegenes managing directors of businesses
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Question 248
waec 2016

In a partnership, the conduct of members is guided by

Aa memorandum of understanding
Bthe article of partnership
Can article of association
Da partnership constitution
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Question 249
waec 2016

Charging different prices for the same commodity is a feature of a

Aperfect competition
Bcommodity market
Cmonopolistic competition
Dmonopoly market
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Question 250
waec 2016

At which stage of production should a firm shut down? when

AAVC=ATC
BAVC
CAVC>price
DAVC=MC
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