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.

1,723 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

1,723 questions
Question 1 of 20 1,723 total questions
Question 371
waec 2010

Excise duty is levied on

Athe total population
Blocal products
Cluxury goods
Dthe working population
View Explanation & Discuss
Question 372
waec 2010

One disadvantages of direct taxes is that they

Aallocate scarce resources
Bare not rigid
Ccan be progressive
Dcan be evaded
View Explanation & Discuss
Question 373
waec 2010

The function of the Central Bank as the lender of last resort means that when all other sources fail,

Athe consumer can always borrow money from the Central Bank
Bthe government can ask the Central Bank to print more money
Ccommercial banks can raise loans from the Central Bank
Dcommercial banks can deposit money with the Central Banks
View Explanation & Discuss
Question 374
waec 2010

One of the functions of the Central Bank is

Aproduction of goods
Bissuing of currency
Cpresenting budgets
Dprinting of cheque books
View Explanation & Discuss
Question 375
waec 2010

The Central Bank controls money supply through all the following except

Alending to the publics
Bbank rate
Clegal reserve requirements
Dopen market operation
View Explanation & Discuss
Question 376
waec 2010

Which of the following is a legal tender?

Abank notes
Bbank overdrafts
Cbills of exchange
Dmoney order
View Explanation & Discuss
Question 377
waec 2010

In which of the following ways has inflation adversely affected your country’s economy?

Aincrease in money supply
Ba fall in real income
Cappreciation in the value of money
Dincreased employment
View Explanation & Discuss
Question 378
waec 2010

The best way of combating demand-pull inflation is to

Aincrease income taxes
Breduce income taxes
Cincrease import duties
Dincrease salaries and wages
View Explanation & Discuss
Question 379
waec 2010

Which of the following is not a reason for holding money?

AOstentation
BSpeculations
CTransactions
DPrecautionary
View Explanation & Discuss
Question 380
waec 2010

The total stock of money available for use in an economy is

Aa function of money
Ba characteristics of money
Cthe demand for money
Dthe supply of money
View Explanation & Discuss
Question 381
waec 2010

Which of the following over estimates the value of national income?

Aincomplete statistical data
BWrong timing of computation
Cchanges in price of goods within the year
Ddouble counting
View Explanation & Discuss
Question 382
waec 2010

Which of the following equation is appropriate for determining the Net Domestic Product (NDP)?

ANDP = GNP - depreciation
BNDP = GDP + Net Income from abroad
CNDP = GDP - depreciation
DNDP = GDP * Net Income from abroad
View Explanation & Discuss
Question 383
waec 2010

Which of the following is not a concept in National Income Accounting?

ADomestic National Products (DNP)
BGross National Product (GNP)
CGross Domestic Product (GDP)
DNet Domestic Product (NDP)
View Explanation & Discuss
Question 384
waec 2010

The following are all factors determining the location of industry except

Aminimum wage rate
Bavailability of labour
Cnearness of raw materials
Dproximity to the market
View Explanation & Discuss
Question 385
waec 2010

The following are advantages of large scale agriculture except

Ause of simple implements
Buse of sophisticated implements
Cincrease in employment
Dintegration of crops and animal farming
View Explanation & Discuss
Question 386
waec 2010

The role of government in promoting agricultural development includes the following except

Apaying the wages of farmers
Bestablishing and funding research
Cformulation of policies
Dprovision of rural infrastructures
View Explanation & Discuss
Question 387
waec 2010
Which of the following does not explain why a school principal earns more salary than a school messenger?
Alenght of training
Bdemand and supply
Ccost of training
Dthe messenger is a non-teaching staff
View Explanation & Discuss
Question 388
waec 2010

An efficient weapon used in resolving dispute between employers and employees is

Aco-operation
Bcollective bargaining
Cdisplay of placards
Dlegal action
View Explanation & Discuss
Question 389
waec 2010

A country whose population size is too small relative to its resource is

Aover populated
Boptimally populated
Cunder populated
Dproducing the optimum output
View Explanation & Discuss
Question 390
waec 2010

The wholesaler performs the following function except

Abreaking the bulk
Boffering credit facilities to the consumers
Cfinancing manufacturers
Dbuying in bulk from manufacturers
View Explanation & Discuss
Question Navigator
Current
MathsFaculty