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.

49 questions JAMB 2540 WAEC 1723 NECO 272 CUSTOM 10
Download PHP app Ask a Question Check Syllabus Past Question Videos Topic Video Lessons

Take a test

Past Questions

49 questions
Question 1 of 9 49 total questions
Question 21
waec 2018

palm oil and palm kernel are in?

Ajoint supply
Bcompetitive demand
Ccompetitive supply
Dcomplementary demand
View Explanation & Discuss
Question 22
waec 2018

an exceptional demand curve can result from?

Aincrease in prices of raw materials
Bincrease in the size of the population
Cexpectation of future price increase
Dchange in taste of the consumer
View Explanation & Discuss
Question 23
waec 2018

goods whose demand vary directly with money income are called?

Ainferior goods
Bcomplementary goods
Csubstitutes
Dnormal goods
View Explanation & Discuss
Question 24
waec 2018

if the price of commodity X rises and consumers shift to commodity Y, then commodity X and Y are?

Asubstitutes
Bcomplements
Cinferior goods
Dbought goods
View Explanation & Discuss
Question 25
waec 2018

a downward sloping demand curve means that?

Atotal revenue declines as price is lowered
Bdemand falls as output rises
Cdemand falls as output falls
Dprice must be lowered to sell more
View Explanation & Discuss
Question 26
waec 2018

producers operating in a free market economy are more efficient as a resulf of?

Athe existence of competition
Bthe very few number of participants
Cthe commitment of the shareholders
Dgovernment regulation of their activities
View Explanation & Discuss
Question 27
waec 2018

the organisation of productive factors is the reponsibility of the?

Amanagement
Bentrepreneur
Cproduction manager
Dlabour union
View Explanation & Discuss
Question 28
waec 2018

which of the following is not emphasized in a production possibility curve

Ascarcity of resources
Beconomic development
Cinefficiency in the use of resources
Dunemployment of labour
View Explanation & Discuss
Question 29
waec 2018

Economic problem arise in all society because?

Aresources are mismanaged by leaders
Bthere is no proper planning
Cresources are not in adequate supply
Dthe services of economist are not employed
View Explanation & Discuss
Question Navigator
Current
MathsFaculty