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.

139 questions JAMB 2540 WAEC 1723 NECO 272 CUSTOM 10
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Past Questions

139 questions
Question 1 of 20 139 total questions
Question 31
jamb 2018

The Economic Commission for Africa was set up by the_________

AUNO
BECOWAS
COAU
DIMF
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Question 32
jamb 2018

If the pass mark was 40, how many students passed the examination?

A100
B120
C160
D200
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Question 33
jamb 2018

The formation of cartels or monopolies in other to obtain better bargaining or deals from other countries is characteristic of which of the following?

AInternational monetary Fund
BCountries with comparative advantage
CCountries with superlative advantage
DCountries producing same or identical goods
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Question 34
jamb 2018

The main concern of economists is to________-

AControl the growth of population
BRedistribute income between the rich and poor
CSatisfy all human wants
DAllocate scarce resources to satisfy human wants
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Question 35
jamb 2018

Utility is the satisfaction derived from____________

AProduction
BDistribution
CConsumption
DDemand
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Question 36
jamb 2018

Which of the following business organization is allowed to raise capital by sales of shares to more than twenty people?

APartnership
BSole proprietorship
CPublic limited liability company
DPrivate limited liability company
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Question 37
jamb 2018

The form of capital that is required for the day-to-day running of production activities is called?

AFixed capital
BSocial Capital
CCirculating capital
DLiquid capital
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Question 38
jamb 2018

Mortgage banks give loans to investors on a long term basics to_____________

AFinance agriculture
Bestablish banks
Cacquire machinery
Dbuild houses
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Question 39
jamb 2018

Human wants are insatiable because wants are____________

ALimited while means are scarce
BUnlimited and means are also unlimited
CLimited and means are also limited
DUnlimited while means are scarce.
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Question 40
jamb 2018

The policy by which government encourages producers of export goods to produce and export more in order to earn more foreign exchange is called__________

ASales promotion
BTerm of trade
CExport promotion
DInternational trade
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Question 41
jamb 2018

Given the table, if the total budget of the country to be 100 million naira, what is the ratio of expenditure on manufacturing to agriculture?

A1:2
B3:2
C2:1
D2:3
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Question 42
jamb 2018

Import duty and tariffs is an instrument used for international trade restriction and so is __________?

APreferential duties
BPreferential treatment
CEntreport
DTrade license
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Question 43
jamb 2018

The following are types of capital except:___________

ACurrent capital
BSaving capital
CWorking capital
DSocial capital
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Question 44
jamb 2018

From table, how many people scores above 6?

A25
B24
C5
D30
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Question 45
jamb 2018

The bank type responsible for the formulation of rules and regulations guiding the banking industry is known as?

ACommercial bank
BCentral bank
CMortgage bank
DMerchant bank
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Question 46
jamb 2018
X 2 3 4 5
F 2 5 2 1

 

From the table, the mean of the distribution is___________

A2.2
B2.5
C3.2
D4.5
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Question 47
jamb 2018

When a union is composed of workers with the same skill , it is called____________

AAn industrial union
BA workers union
CA craft union
DA technical union
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Question 48
jamb 2018

One of the major forms of migration that tends to create problem in all developing countries is that of___________

ARural-urban migration
BRural-rural migration
CUrban-rural migration
DSeasonal migration
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Question 49
jamb 2018

A group formed to enable members adopt a common policy in labour negotiation is known as?

AEmployer’s association
BCraft Union
CTrade union
DEmployee’s union
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Question 50
jamb 2018

The use of income and expenditure instruments or policies to control or regulate the economic activities of a country is known as?

ARevenue generation
BEconomic development
CFiscal Policy
DTaxation
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