Economics Past Questions

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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 271
waec 2015

which of the following is not an effect of many middlemen in the chain of production

Ashortage of commodities
Blow retail prices
Choarding of goods
Dhigh retail prices
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Question 272
waec 2015

A disadvantage of the mean as measure of central tendency is that?

Ais affected by extreme values
Bcan only be used for continuous data
Ccannot be used to measure the qualities of a population
Dcannot be determined in group data
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Question 273
waec 2015

The following constitute the criteria for identifying an economic system except?

Aownership of resources
Bscarcity of resources
Cmethod of decision making
Dmotivation for production
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Question 274
waec 2015

An outward shift of the production possibility curve shows that?

Aproduction is shifting to the left
Bresources are under-utilized
Ceconomic growth has taken place
Dfactors of production are moving outward
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Question 275
waec 2015

which of the following can be described as land

Aforest
Bdiamond
Croads
Dcrude oil
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Question 276
waec 2015

Economics is regarded as a science because it?

Astudies laws that govern human behaviour
Buses scientific method to explain human behaviour
Cmakes use of controlled experiments to explain human behaviour
Dmakes use of machines to study human behaviour
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Question 277
waec 2014

Use this above diagram to answer this question. What is the median of the distribution?

A5
B4
C3
D2
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Question 278
waec 2014

Use this above diagram to answer this question. From the table, the mean of the distribution is

A2.2
B2.5
C3
D4.5
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Question 279
waec 2014

Which of the following is not an effect of the discovery of mineral resources in an area?

Aincrease in wealth
Bovercrowding
Cincrease in crime rate
Dunder population
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Question 280
waec 2014

The concentration of many firms of a particular industry in a particular area is known as

Aloccation of industry
Bamalgamation of industries
Clocalization of industries
Dnationalization of industry
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Question 281
waec 2014

Which of the following measures will not encourage industrialization in West Africa?

ATaking over of all forms of industries by the government
Bprovision of social infrastructure
CGiving tax incentives, especially to infant indudustries
DUsing tariffs to discourage the use of imported items
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Question 282
waec 2014

Precautionary motive for holding money is to

Ameet daily and regular transactions
Btake advantage of changes in the prices of goods and services
Ccover unforeseen events
Dcover expenses on house rent
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Question 283
waec 2014

Which of the following functions of money is mostly affected during inflation?

AMedium of exchange
BUnit of Account
CStore of value
DStandard of deferred payment
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Question 284
waec 2014

A financial institution established for the purpose of providing specialzed services like acceptance of bills of exchange and equipment leasing is known as

AMerchant Bank
BDevelopment Bank
CCentral Bank
DInsurance Company
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Question 285
waec 2014

International trade is desirable because it

Amay lead to overproduction
Bbrings about over-dependence of countries on one another
Cprovides foreign market for local goods
Dbrings about unhealthy competition and rivalries
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Question 286
waec 2014

The likely implication of the devaluation of a country's currency is that

Aexports of such a country become cheaper
Bimportation of goods into such a country becomes cheaper
Cthe value of such a country's currency rises
Dforeign goods are attracted into the country
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Question 287
waec 2014

A change in the quantity demanded of a given commodity is determined by the

Asize of the population
Bincome of the consumer
Cprice of the commodity
Dtaste and fashion
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Question 288
waec 2014

Which of the following statements is correct?

AAs total utility increases, the marginal utility also increases
BThe marginal utility is a always zero whenever the total utility reaches the maximum
CThe total utility is at maximum whenever marginal utility is at it's maximum
DThere is no relationship between total utility and the marginal utility
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Question 289
waec 2014
West African countries are experiencing worsening terms of trade because
Athey are primary producers
Btheir currencies are overvalued
Cthey import less machines
Dthey are tertiary producers
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Question 290
waec 2014

Provision of short-term loans to solve balance of payments problems is done by the

AInternational Finance Corporation
BInternational Monetary Fund
CIternational Bank for Reconstruction and Development
DAfrican Development Bank
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