Economics Past Questions

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2,540 questions JAMB 2540 WAEC 1723 NECO 272 CUSTOM 10
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Past Questions

2,540 questions
Question 1 of 20 2,540 total questions
Question 321
jamb 2016

The slow pace of industrial growth in Nigeria can be attributed to__________?

Alack of raw materials
Black of market for produce
Cinadequate skilled labour
Dover-dependence on the oil sector
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Question 322
jamb 2016

If the marginal propensity to save is 0.8, calculate the multiplier?

A1.25
B5.00
C1.30
D2.25
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Question 323
jamb 2016

Public ownership of productive factors is a feature of_______?

ASocialism
BCapitalism
CFeudalism
DMixed economy
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Question 324
jamb 2016

One of the factors affecting change in demand for a commodity is the _______?

ASupply of the commodity
BAvailability of the substitutes
CPrice of the commodity
DTechnical know-how
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Question 325
jamb 2016
The supply curve above is
AFairly inelastic
BPerfectly inelastic
CUnitary elastic
DPerfectly elastic
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Question 326
jamb 2016

The demand for two or more commodities to satisfy a particular want is _____?

ADerived
BComposite
CCompetitive
DJoint
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Question 327
jamb 2016

In Nigeria, unemployment can be minimized through______?

ADiversification of the economy
BStrict immigration law
CPaying unemployment benefits
DRestrictive fiscal policy
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Question 328
jamb 2016

The concept of marginal utility indicates the relationship between utility and _________?

APrice
BSatisfaction
CCost
DRevenue
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Question 329
jamb 2016

One of the characteristics of private enterprises is ______?

AProvision of welfare to the citizens
BThat tax payers bear all the risks
CPublic ownership of shares
DIndividual funding of business activities
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Question 330
jamb 2016

One major problem encountered by ECOWAS is_______?

AConflict of interest among members
BIncreasing population
CWeakness in the trade relationship
DLanguage barrier
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Question 331
jamb 2016
In Nigeria, most agricultural policies are aimed at______?
AEnsuring equitable distribution of income
BLiberalizing all sectors of the nation's economy
CEncouraging the development of manufacturing sector
DAchieving self-sufficiency in food production
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Question 332
jamb 2016

The price elasticity of supply of perishable goods is_________?

AElastic
BUnitary
CInelastic
DZero
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Question 333
jamb 2016

The type of inflation that emanates from excess demand overs supply is___________?

AGalloping inflation
BImported inflation
CDemand-pull inflation
DCost-push inflation
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Question 334
jamb 2016

Public limited liability companies are owned by__________?

AThe federal government
BPrivate and individual organizations
CThe state government
DThe federal and state governments
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Question 335
jamb 2016

Which of the following is NOT a source of government revenue?

ATaxes, Fees, licenses and fines
BPersonal income, disposable income and transfer earnings
CInterest, dividends, profits and earnings
DGrants, aids and borrowing
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Question 336
jamb 2016

If price of yams decreases from N15.00 per tuber to N13.50 and the quantity supplied decreases by 20%. What is the elasticity of supply?

A2.00
B0.50
C1.50
D1.00
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Question 337
jamb 2016

The study of economics is necessary mainly because of

AUnemployment
BUnlimited resources
CScarcity of resources
DOverpopulation
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Question 338
jamb 2016

One of the ways of improving the marketing of agricultural produce is by

AReviewing the land tenure system
BEnsuring even distribution of farm inputs
CEmbarking on irrigation farming
DEstablishing agricultural marketing boards
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Question 339
jamb 2016

If Nigeria has comparative advantage over Ghana in producing cocoa, this means_________?

ANigeria produces cocoa more cheaply than Ghana
BNigeria and Ghana produce at the same level
CGhana produces cocoa more than Nigeria
DNigeria produces more cocoa than Ghana
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Question 340
jamb 2016

Which of the following is a major determinant of price elasticity of demand?

AThe price of the commodity
BAvailability of factors of production
CThe prices of factors of production
DIncome of the consumers
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