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.

97 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

97 questions
Question 1 of 20 97 total questions
Question 21
waec 2008

If good P and Q are jointly demanded, an increase in the price of P will likely

Aleave the demand for Q constant but reduce the quantity demanded of P
Breduce the quantity of P but increase the Price of Q
CIncrease the quantity supplied of Q
Ddecrease the quantity demanded of Q
View Explanation & Discuss
Question 22
waec 2008

Which of the following factors does not cause a change in demand

ATaste and fashion
Bvagaries of weather
Cprice of other commodities
Dprice of commodity
View Explanation & Discuss
Question 23
waec 2008

The theory of diminishing marginal utility states that as more units of a commodity are consumed, the

Asatisfaction from an extra unit decreases
Bsatisfaction from an extra unit rises
Csatisfaction from an extra units remains constant
Dtotal satisfaction from the goods remains the same
View Explanation & Discuss
Question 24
waec 2008

Data presented in tables are usually arranged in

Acharts and graphs
Brows and columns
Cgraph and rows
Dcolumns and charts
View Explanation & Discuss
Question 25
waec 2008

Production covers all the following except when

Autility is created
Ba good is manufactured
Ca commodity is consumed
Dindividual wants are satisfied
View Explanation & Discuss
Question 26
waec 2008

Productive resources can also be called

Aprinciple of production
Bfactors of production
Citems of production
Dlabour and material resources
View Explanation & Discuss
Question 27
waec 2008

The main concern of economists is to

Aallocate scarce resouces to satisfy human wants
Bsatisfy all human wants
Credistribute income between the rich and the poor
Dcontrol the growth of population
View Explanation & Discuss
Question 28
jamb 2008

Individual markets differ from each other according to

AThe degree of competition
BThe volume of trade
CThe number of buyers
DIt's composition
View Explanation & Discuss
Question 29
jamb 2008

One of the factors affecting the supply of manufactured goods is

AWeather
BTechnology
CConsumer tastes
DAvailability of inputs
View Explanation & Discuss
Question 30
jamb 2008

Use the information below to answer this question.
Given that Q d = 20 - 4P and Qs = 6P + 12

If price is increased to N3, how much is the excess supply?

A30
B22
C12
D8
View Explanation & Discuss
Question 31
jamb 2008

Use the information below to answer this question.
Given that Q d = 20 - 4P and Q = 6P + 12

Determine the equilibrium quantity

A14.2
B16.8
C20.8
D30.2
View Explanation & Discuss
Question 32
jamb 2008

Use the data below to answer this questions
54, 36, 62, 79, 83, 36, 62, 42, 62, and 42.

What is the modal score?

A36
B42
C54
D62
View Explanation & Discuss
Question 33
jamb 2008

Use the data below to answer this questions
54, 36, 62, 79, 83, 36, 62, 42, 62, and 42.

Calculate the mean?

A45.5
B55.6
C55.8
D65.8
View Explanation & Discuss
Question 34
jamb 2008
From the shaded area of the diagram above, an appropriate population policy will be to
Aencourage early marriages
Bdiscourage immigration
Cdiscourage polygamy
Dencourage the use of contraceptives
View Explanation & Discuss
Question 35
jamb 2008
From the graph above , point M shows that MC
Acuts AC at its minimum point
Band AC rises simultaneously
Ccuts AC at its maximum point
Dis falling
View Explanation & Discuss
Question 36
jamb 2008

In the diagram above, there is an excess

Ademand for 30 units
Bsupply of 40 units
Cdemand for 20 units
Dsupply of 20 units
View Explanation & Discuss
Question 37
jamb 2008

A classroom teacher is promoted to the rank of a principal. This is an example of

Avertical mobility
Blateral mobility
Csocial mobility
Dhorizontal mobility
View Explanation & Discuss
Question 38
jamb 2008

If the active population is 50 million and unemployed is 5 million what is the unemployment rate?

A10%
B45%
C55%
D90%
View Explanation & Discuss
Question 39
jamb 2008

A high rent on land will affect the cost of producing maize

Aat the early stage of production
Bnegatively
Cat the later stage of population
Dpositively
View Explanation & Discuss
Question 40
jamb 2008
A major trading problem facing ECOWAS is
Athe absence of common currency
Bpolitical instability
Chigh poverty level
Dnon implementation of decisions
View Explanation & Discuss
Question Navigator
Current
MathsFaculty