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.

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 31
jamb 2025

An agricultural production process which uses more machinery relative to labour is referred to as

 

Aland intensive farming
Blarge scale farming
Ccapital intensive farming
Dcommercial farming
View Explanation & Discuss
Question 32
jamb 2025

Development plans in West Africa tend to deviate from their targets mainly due to

 

Alow level of education
Bhigh population growth rate
Clack of manpower
Dpolitical instability
View Explanation & Discuss
Question 33
jamb 2025

In the event of bankruptcy, owners of joint-stock companies lose

Atheir private properties
Bonly the capital invested
Conly their dividends
Dboth company and private assets
View Explanation & Discuss
Question 34
jamb 2025

Population growth rate can be calculated as

 

Abirth rate- death rate + immigrants - emigrants
Bbirth rate-death rate+migration rate-immigration rate
Cbirth rate- death rate
Dbirth rate- death rate-emigrants-immigrants
View Explanation & Discuss
Question 35
jamb 2025

A country's balance of payments is in deficit when

 

Aa country's payments for imports of invisible goods are greater than her receipts from exports of invisible goods
Bthe total receipts from her export of visible and invisible goods are greater than her payments for visible and
invisible imports
Cthe total payments for visible and invisible imports are greater than the total receipts from her exports of visible and
invisible goods
DIt can record a surplus on current account of her balance of payments accounts
View Explanation & Discuss
Question 36
jamb 2025

Which of the following serves as a banker's bank?

ACommercial Bank
BThe Central Bank
CDevelopment Bank
DThe Mortgage Bank
View Explanation & Discuss
Question 37
jamb 2025

The United Nation Conference on Trade and Development (UNCTAD) is a forum designed specifically for discussing the

Areligious affairs in the Southern Africa
Beducational needs of the developed countries
Cbetter terms of trade in the world
Dpolitical conflicts in the United Nation Security Council
View Explanation & Discuss
Question 38
jamb 2025

One advantage of a sole proprietorship is that

 

Ait makes an increase in the volume of business possible
Bit can be managed without conflicts
Cthe sole proprietor raises money from the public
Dthere is no limit to the number of people who may bring in capital
View Explanation & Discuss
Question 39
jamb 2025

In calculating the Gross National Product (GNP) by the income approach, all the following are included except

Adirect taxes paid by persons and companies
Bwages and salaries
Crents on houses
Dretirement benefits
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Question 40
jamb 2025

Which of the following best describe token money?

ACurrency and coins in circulation
BCoins and notes made of poor quality materials
CMoney in the vault of commercial banks
DMoney with face value higher than its material content
View Explanation & Discuss
Question 41
jamb 2025

If an increase in the price of crude oil led to an increase in the prices of kerosene and grease,then kerosene and grease are in

 

Ajoint supply.
Bcompetitive supply.
Ccomposite supply.
Dmarket supply.
View Explanation & Discuss
Question 42
jamb 2025

When the death rate for old people and the infant mortality rate are high, with no migration, there will be in the population a
higher number of

 

Achildren in the population
Bwomen in the population
Cyounger people in the population
Dold people in the population
View Explanation & Discuss
Question 43
jamb 2025

The following are advantages of large scale agriculture except

 

Ause of simple implements
Buse of sophisticated implements
Cintegration of crop and animal farming?
Dincrease in employment
View Explanation & Discuss
Question 44
jamb 2025

The function that distinguishes commercial banks from the central bank is that the former

Aaccepts deposits from the public
Bservices the public debt
Cregulates foreign exchange
Dis a leader of last resort
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Question 45
jamb 2025

Which of the following is not a feature of economic under development?

 

AMonocultural economy
BLow life expectancy
CIncome inequality
DHigh productivity
View Explanation & Discuss
Question 46
jamb 2025

Which of the following factors does not encourage the location of industries?

ANearness to the market
BGovernment influence in sitting industries
CAvailability of infrastructural facilities
Dpolitical instability
View Explanation & Discuss
Question 47
jamb 2025

What is the mean wage?

A$36
B$35
C$37
D$38
View Explanation & Discuss
Question 48
jamb 2025

 

The major achievement of the Economic Community of West African States (ECOWAS) is that it has

 

Amade possible the use of common currency.
Bincreased members allegiance to former colonial masters.
Cwidened the market for goods produced.
Dmade capital more mobile.
View Explanation & Discuss
Question 49
jamb 2025

 

If 20% rise in the price of Whisky leads to a 30% increase in quantity demanded of Schnapps, the cross elasticity of demand is

 

 

A3.0
B1.5
C2.3
D2.5
View Explanation & Discuss
Question 50
jamb 2025

The exploitation of mineral resources constitutes which form of production?

 

 

Aservices production
Bsecondary production
Cprimary production
Dtertiary production
View Explanation & Discuss
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