Economics Past Questions

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

139 questions
Question 1 of 20 139 total questions
Question 21
waec 2018

palm oil and palm kernel are in?

Ajoint supply
Bcompetitive demand
Ccompetitive supply
Dcomplementary demand
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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
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Question 23
waec 2018

goods whose demand vary directly with money income are called?

Ainferior goods
Bcomplementary goods
Csubstitutes
Dnormal goods
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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
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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
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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
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Question 27
waec 2018

the organisation of productive factors is the reponsibility of the?

Amanagement
Bentrepreneur
Cproduction manager
Dlabour union
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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
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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
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Question 30
jamb 2018
X 2 3 4 5
F 2 5 2 1

 

What is the median of the distribution?

 

A5
B4
C3
D2
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Question 31
jamb 2018

In other to enhance the utility of a particular commodity, it was moved from a place where it has little utility to another area where its utility is higher. This form of utility is referred to as?

AMarginal utility
BForm utility
CPlace utility
DTotal utility
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Question 32
jamb 2018

Which of the following is an advantage of localization of industry?

ADevelopment of subsidiary firms
Bcreation of parallel market
Cdevelopment of slums
Dattraction of foreign capital
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Question 33
jamb 2018

Factors affecting size of Labour Force include the following EXCEPT?

ALevel of technology
BRetirement age
CGovernment policies
DTrade Union activities
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Question 34
jamb 2018

Calculate the population density of Nigeria, having a total population of 180 million with a total land area of 923,768 sq km?

A195 million people per sq km
B5132 people per sq km
C195 people per sq km
D1.7 million people per sq km
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Question 35
jamb 2018

Consider the following statements:

  1. Climate and availability of water largely determines the pattern of the population distribution.

  2. Density of population helps in getting a better understanding of the spatial distribution of population in relation to land

  Which of the statement(s) given above is/are correct

AOnly 1
BOnly 2
CBoth 1 and 2
DNeither 1 nor 2
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Question 36
jamb 2018

The economic term used to refer to human wants, desires or needs is known as?

AEnds
BAlternative means
CScarce
DMeans
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Question 37
jamb 2018

The Economic Community of West African States (ECOWAS) has been slow in achieving its objective because of______________

AThe activities of multinationals
Binadequate personnel at the secretariat
Cpolitical instability
Dinadequate international support
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Question 38
jamb 2018

Occupational distribution of information is mainly influenced by___________

Aeconomic factor
Breligious factor
Cgeographical factor
Dsocial factor
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Question 39
jamb 2018

The full meaning of NNPC is?

ANigerian National Population commission
BNigerian National Petroleum Corporation
CNational Number of Petroleum Companies
DNone of the above
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Question 40
jamb 2018

The reward for capital is___________

AInterest
BRent
CRisk
DPremium
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