Economics Past Questions

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4,545 questions JAMB 2540 WAEC 1723 NECO 272 CUSTOM 10
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Past Questions

4,545 questions
Question 1 of 20 4,545 total questions
Question 341
waec 2020

Land as a factor of production is made useful through the 

Aapplication of human effort
Bacts of nature
Capplication of fertilizer
Duse of machines
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Question 342
waec 2020

When the production possibility curve shifts outwards, the economy experiences

Agrowth
Bover-production
Cinefficient use of resources
Dunder-production
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Question 343
waec 2020

Which of the following is central to the definition of Economics?

Aresources
Bwants
Cscarcity
Dcapital
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Question 344
jamb 2020

Economic growth is different from economic development because economic growth

Adescribes expansion and changes
Bis measurable but not objective
Cdescribes expansion and not change
Dis not measurable but objective
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Question 345
jamb 2020

Utility is the satisfaction derived from?

Aproduction
Bdistribution
Cconsumption
Ddemand
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Question 346
jamb 2020

One of the major criticism of the 1962 -1968 National Development Plan was that?

Ait failed to incorporate lessons gained from earlier plans to enhance its efficiency
Bit came too quickly after the country's independence
Cplanned expenditure was based too heavily on expected earnings from crude oil
Dits execution was based largely on foregn-sourced financial resources
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Question 347
jamb 2020

A major effect of a long distribution chain is 

Ascarcity of commodities
Bhigh retail
Clow retails prices
Dlow producer earnings
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Question 348
jamb 2020

Crude petroleum is a good example of a 

Alasting asset
Bwasting asset
Csynthetic product
Dcostless resources
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Question 349
jamb 2020

One of the techniques of monetary control used by the central bank of Nigeria is

Aselective credit control
Bbudget deficit
Cforeign exchange control
Dmonitoring the general price level
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Question 350
jamb 2020

The Economic Commission for Africa was set up by the?

AUNO
BECOWAS
COAU
DIMF
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Question 351
jamb 2020

The use of legally permissible means to reduce tax liabilities is known as tax?

Aevasion
Bavoidance
Crelief
Dexemption
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Question 352
jamb 2020

The most important attribute of money is?

Ahomogeneity
Brelative scarcity
Cdivisibility
Dgeneral acceptance
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Question 353
jamb 2020

When a country's population is experiencing increasing returns, that country is said to be?

Aoverpopulated
Beconomically poor
Cover-producing goods and services
Dunder-populated
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Question 354
jamb 2020

Plywood industries are often located near the source of?

Afinance
Blabour
Cpower supply
Draw materials
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Question 355
jamb 2020

The most important goal of OPEC is to?

Apresent a united front for the purpose of raise prices of crude oil
Bbring unity among the petroleum exporting countries
Censure political stability among member states
Densure that rules on quota production are strictly followed
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Question 356
jamb 2020

In recent times, agriculture in Nigeria tends to lose its vital labour force as a result of?

Alack of an effective agricultural policy
Bemployment opportunities in the agricultural sector
Crural-urban drift
Dlow prices of agricultural products
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Question 357
jamb 2020

The factor of production that has the highest degree of mobility is? 

Aland
Blabour
Ccapital
Dentrepreneur
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Question 358
jamb 2020

The problem of conducting census include 

Ahigh rate of rural-urban migration
Bpoor geographical distribution of population
Chigh birth rate in the country
Dpoor town planning in urban areas
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Question 359
jamb 2020

A situation in which a commodity is sold abroad below its cost of production in the home country is known as?

Adumping
Bcounter trade
Ctrade liberalization
D
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Question 360
jamb 2020

Firms are often set up close to each other in order to take advantage of?

Asupply of skilled labour
Bagglomeration economies
Cinternal economies of scale
Dexternal economies of scale
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