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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.

48 questions JAMB 2540 WAEC 1723 NECO 272 CUSTOM 10

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Past Questions

48 questions

Question 1 of 8 48 total questions

Question 21

waec 2003

A major limiting factor of mass production is

Aefficient management

Badequate labour supply

Csmall size of the market

Dadequate supply of raw materials

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Question 22

waec 2003

one major function of the entrepreneur is

Abearing of risks

Bmaximizing profits

Ctaking charge of day to day managment

Ddeterminig the selling price of his products

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Question 23

waec 2003

Which of the following factors of production consists of man made goods?

Aland

Blabour

Ccapital

Dentreprennuer

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Question 24

waec 2003

The reward for labour is

Awage

Bprofit

Crent

Ddividend

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Question 25

waec 2003

The problem of scarcity is reduced by

Acontrolling consumption of goods and services

Bproducing everything needed by the consumers

Censuring efficient allocation of resources

Drestricting consumer choice and tatste

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Question 26

waec 2003

which of the following is not an advantage of tubular presentation of data?

Aenables easy location of required figures

Bmakes for easy comaprison of figures

Coccupy more space than mathematical equations

Dshowa wether the figures are increasing or decreasing

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Question 27

waec 2003

The major agents of economics system are

Aconsumer, workers and producers

Bmarkets, telecommunication and banks

Cschools, hospitals and universisties

Dindidviduals , firms and government

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Question 28

waec 2003

Economic as a field of study is a

Apure science

Bpolititcal science

Csocial science

Dphysical science

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