Economics Past Questions

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1,723 questions JAMB 2540 WAEC 1723 NECO 272 CUSTOM 10
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Past Questions

1,723 questions
Question 1 of 20 1,723 total questions
Question 311
waec 2013

Goods are said to be in competitive demand when they are

Asubstitutes
Bcomplementary
Cjointly demanded
Didentical
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Question 312
waec 2013

Goods which have to be paid for are known as

Aphysical goods
Beconomic goods
Cfree goods
Dintangible goods
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Question 313
waec 2013
The type of monopoly that develops as a result of uneven distribution of resources is called
Alegal monopoly
Bnatural monopoly
Cstate monopoly
Dinternational monopoly
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Question 314
waec 2013

Why would an individual increase his level of consumption during inflationary periods?

AThe real value of any amount saved falls over time
BInterest rates are generally low
CThere are varieties of goods to buy
DWages and salaries stagnate during inflation
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Question 315
waec 2013

An increase in the supply of a commodity X automatically results in an increase in the supply of another commodity Y. This is a cause of

Aelastic supply
Bjoint supply
Cexceptional supply
Dcompetitive supply
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Question 316
waec 2013

Which of the following is an asset of a commercial bank?

AReserve funds
BShareholders capital
CCustomers' deposits
DTreasury bills
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Question 317
waec 2013
Which of the following is a function of money?
AMedium of Communication
BMeasure of securities
CStore of Wealth
DDiscounting bills of exchange
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Question 318
waec 2013
The value of money is effected by the
Aspeculative motive
Bprice level
Cprecautionary motive
Dintervention of development
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Question 319
waec 2013
A co-operative society is a
Afinance house
Bself -help business organization
Cpublic corporation
Dnon-democratic business organization
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Question 320
waec 2013
A budget is balance when expected total revenue is
Agreater than expected expected expenditure
Bless than total expenditure
Cequal to expected expenditure
Dgreater than total expenditure
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Question 321
waec 2013
Which of the following is a function of merchant banks?
AActing as bankers' bank.
BLending to the commercial banks as a last resort
Ccontrolling inflation in the economy
Dunderwriting and issuing of shares
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Question 322
waec 2013
General rise in the price level induced by increased price of inputs is referred to as
Arun-away inflation
Bcost -push inflation
Cdemand -pull inflation
Dimported inflation
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Question 323
waec 2013
In the balance of payments of a country, tourism is classified under
Acapital account
Binvisible trade
Cmerchandise trade
Dofficial reserves
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Question 324
waec 2013
Trade between two countries is known as
Abilateral trade.
Bbilateria trade
Cmultilateral trade
Dinternal trade
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Question 325
waec 2013
All economic systems must decide what to produce because
Aresources are not available
Bconsumers want maximum satisfaction
Cresources are limited in supply
Dproducers want maximum profit
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Question 326
waec 2013

A debenture holder earns

Acommission
Bprofits
Cfixed interest
Dquasi-rent
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Question 327
waec 2013
Which of the following is not a function of an insurance company?
Apooling resources together against risks
BMobilization of funds through premiums collected
CEncouragement of investment by security of capital
Dcollection of deposits from the public for investment
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Question 328
waec 2013
In Economics , a market is defined as any
Aagreement made for consumers to buy all they need
Bngement made for producers sell all their goods
Cagreement to sell commodities at low prices
Darrangement whereby the buyers and sellers are in contact
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Question 329
waec 2013
The action of government to forgo road construction in order to provide more health facilities denotes
Asound economic decision
Bopportunity cost
Cpracticable government policy
Dscale of preference
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Question 330
waec 2012

Which of the following is not a function of the West African Development Bank?

APromotion of both private and public investments in member states
BFinancing and executing projects in member states
CPromotion of social development of member states
Dharmonization of oil prices to the advantage of member states
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