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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.

47 questions JAMB 2540 WAEC 1723 NECO 272 CUSTOM 10

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Past Questions

47 questions

Question 1 of 7 47 total questions

Question 21

waec 2014

To control inflation, the central bank of a country may adopt

Aan expansionary monetary policy

Ba restrictive monetary policy

Can increased wage policy

Da deficit financing policy

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Question 22

waec 2014

A normal supply curve has a positive slope which indicates that

Asellers are willing to sell more at a lower price

Bsellers are indifferent to prices

Csellers are willing to sell more at a higher price

Dthere is always a fixed supply

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Question 23

waec 2014

Households make economic decisions because they want to

Amake more profit

Bincrease their salaries and wages

Cincrease their purchases

Dmaximize their satisfaction

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Question 24

waec 2014

Which of following is not a feature of socialism?

ACollective ownership of productive resources

BFreedom of enterprise

Cproduction is not based on the profit motive

DMaximization of public welfare

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Question 25

waec 2014

In a centrally planned economy, what to produce is

Adetermined by the forces of demand and spply

Bdriven by profit motive

Cdetermined by consumers

Dthe responsibility of state's bureaucrats

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Question 26

waec 2014

A basic economic problem of any society is

Ahigh level of illiteracy

Birregular power supply

Cpopulation growth

Dresource allocation

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Question 27

waec 2014

Human want are unlimited because

Aproduction is inadequate

Bresources have alternative uses

Cnew wants always rise

Dresources are limited

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