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.

50 questions JAMB 2540 WAEC 1723 NECO 272 CUSTOM 10
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Past Questions

50 questions
Question 1 of 10 50 total questions
Question 21
waec 2019

What effect will an increase in the supply of fish have on the meat market

Aa fall in equilibrium price and quantity
Ban increase in equilibrium price and quantity
Can increase in equilibrium price and a fall in quantity
Dboth equilibrium price and quantity will remain unchanged
View Explanation & Discuss
Question 22
waec 2019

The demand for coffee and tea is 

Ajoint
Bcompetitive
Ccomposite
Dderived
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Question 23
waec 2019

If less of a good is bought as one's income increases, such a good is

Aa normal good
Ba luxury
Ca necessity
Dan inferior good
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Question 24
waec 2019

If the demand function is Qd = -0.5 + 20, calculate the quantity demanded when price is $15.0

A-%12.50
B
C$12.50
D-$27.50
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Question 25
waec 2019

If the coefficient of price elasticity of demand of a product is zero, then its demand curve will be

Aparallel to the quantity axis
Bparallel to the price axis
Cnegatively sloped
Dpositively sloped
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Question 26
waec 2019

The desire for profits is a major feature of 

Atraditional economy
Bmixed economy
Cmarket economy
Dcommand economy
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Question 27
waec 2019

The wages of a group of workers in dollars is stated below;

40, 30, 70, 20, 60, 10, 10, 80, 30, and 10.

What is the mean wage

A$35
B$36
C$37
D$38
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Question 28
waec 2019

The major employer of labour in developing countries is the

Atertiary sector
Bsecondary sector
Cprimary sector
Dindustrial sector
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Question 29
waec 2019

A point X inside the production possibility curve indicates that

Aresources are fully utilized
Bthe country is poor
Csome resources are idle
Dresources are not available
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Question 30
waec 2019

The fundamental economic problem in every society is

ALimited supply of productive resources
Binadequate supply of money
Ccorruption and mismanagement
D
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