Economics Past Questions

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

140 questions
Question 1 of 20 140 total questions
Question 31
jamb 2024

Which of the following is NOT included in-measuring the National income through the income approach?

Aprofit earned by NITEL plc
BProfit earned by Nigerian bottling company plc
CIncome earned by a bricklayer
DAllowance given to an aged mother by a civil servant
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Question 32
jamb 2024

Which of the following is NOT a function of the IMF?

AProviding financial aid to members experiencing balance of payment difficulties
BPromoting international monetary cooperation
CExchange rate stabilization
Dassisting member countries in printing and issuing their currency
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Question 33
jamb 2024

When an increase in the price of a commodity lead to a fall In the demand for another, the demand for the two commodities are said to be

Acompetitive
Bjoint
Ccomposite
Dderived
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Question 34
jamb 2024

The following are rewards for factors of production EXCEPT

Aprofit
Brent
Cinterest
Dsubsidy
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Question 35
jamb 2024

Economic problem arises as a result of

Amoney cost
Bopportunity cost
Cchoice
Dscarcity
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Question 36
jamb 2024

What add funds to the circular flow?

AExpenditure approach
Bwithdrawal
Cleakages
Dinjection
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Question 37
jamb 2024

The diagram below represent

ABusiness cycle
BNational income
CInflationary gap
DCircular flow of income
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Question 38
jamb 2024

Which of the following will NOT bring about an increase in Labour force?

ADecrease in death rate
BBetter medical services
CImmigration
DEmigration
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Question 39
jamb 2024

Persistent fall In the general price level is known as

Adeflation
Bdevaluation
Cgeneral price Increase
Dinflation
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Question 40
jamb 2024

Which of the following is NOT a function of marketing boards in Nigeria?

AGrading of farm produce
BImportation of farm produce
CFixing of prices for farm produce
DMarketing of farm produce
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Question 41
jamb 2024

An industry operating in a perfect competitive market situation will maximum profit when

ADD < SS
BMC > AC
CMC = MR
DMC < AR
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Question 42
jamb 2024

An industry engaged in the extraction of raw materials and its conversion into semi-finished goods is called industry.

Amining
Bmanufacturing
Cprocessing
Dconversion
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Question 43
jamb 2024

The satisfaction derived from the consumption of a commodity is referred to as

Aconsumption
Bproduction
Cutility
Ddemand
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Question 44
jamb 2024

Which of the following is NOT a major role of OPEC in production, and marketing of petroleum?

AStabilizing oil prices putting a production ceiling
BRefining of petroleum products in member countries
CRaising the revenue of member countries from oil through price increase
DEnsuring efficient and regular supply of oil to the two market
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Question 45
jamb 2024

Stock exchange market deals with

Asales of second hand securities
Bsales of foreign exchange
Cexchange of stock fish for stock
Dexchange of treasury bills
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Question 46
jamb 2024

Which of the following is a disadvantage of localization of industries?

ACreating structural unemployment
BReducing cost of production
CEncouraging the growth of skilled labour
DEncouraging subsidiary industries
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Question 47
jamb 2024

At the equilibrium price,

Ademand equates supply
Bprice is equal to demand only
Cdemand is less than supply
Ddemand is greater than supply
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Question 48
jamb 2024

The system of farming which involves the use of a large hectare of land planted with economic crops is known as

Apeasant farming
Btree planting
Cplantation farming
Dmechanized farming
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Question 49
jamb 2024

The following are problems of development planning in Nigeria EXCEPT
 

Ainadequate capital
Bunder-population
Cinadequate statistical data
Dpoor implementation of economic planning
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Question 50
jamb 2024

The following determine the level of consumption EXCEPT

Alevel of income
Bthe rate of taxes paid
Csavings
Dthe political climate
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