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 421
jamb 2019

The money market equilibrium is defined as_________

Awhen the demand and supply of money are equal
Bwhen demand is greater than supply of money
Cwhen demand is less than supply of money
Dwhen supply is greater than demand for money
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Question 422
jamb 2019

A method of analysis that draws conclusions from data rather than general Principles already known is________

ADeductive reasoning
BInductive reasoning
CNormative reasoning
DPositive reasoning
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Question 423
jamb 2019

The arithmetic mean of 5, 8, 10, 15, 24 and 28 is_______

A145
B15
C90
D6
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Question 424
jamb 2019

An economy in which the whole income is not consumed is referred to as______

AFrugal economy
BSpend thrift economy
CCapitalist economy
DMixed economy
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Question 425
jamb 2019

The method obtained by adding all the reward of factors of production in national income is________

Aincome approach
Bexpenditure approach
Cvalue added method
Doutput approach
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Question 426
jamb 2019

A rise in the supply of a commodity cause__________

Aan increase in the equilibrium price and decrease in the equilibrium quantity bought and sold
Ban increase in both equilibrium
Ca decrease in the equilibrium price and an increase in the equilibrium quantity bought and sold
Da decrease in both equilibrium
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Question 427
jamb 2019

Supply is________

AA stock
BA Flow
CConstant
DA table
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Question 428
jamb 2019

The demand curve facing the monopolist in the foreign market is__________

AElastic
BInelastic
CPerfectly elastic
DUnitary
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Question 429
jamb 2019

In the short-run, the monopoly makes_______

ANormal profit
BAbnormal Profit
CLoss
DSales
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Question 430
jamb 2019

In a perfect competition, the market price is determined by_______

Athe government
Bthe producer
Cthe consumer
Dthe market supply and demand junctions
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Question 431
jamb 2019

 

Price
(₦)
Quantity Demanded
8 10
6 12


If we move from 8 to 6, the elasticity of demand is_______

A-1.25
B0.62
C0.8
D1
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Question 432
jamb 2019

If two commodities are unrelated, a change in the price of one will____________

Ahave effect on the quantity demanded of the other
Bhave no effect on the quantity demanded of the other
Cincrease the quantity demanded on the other
Ddecrease the quantity demanded on the other
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Question 433
jamb 2019

A demand which gives rise to the reverse of the law of demand is__________

ADerived demand
BJoint demand
CAbnormal demand
DComposite demand
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Question 434
waec 2018

at output level 5, the total variable cost is?

A$5.00
B$20,00
C$55.00
D$35.00
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Question 435
waec 2018

the total fixed cost is?

A$7.00
B$30.00
C$20.00
D$135.00
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Question 436
waec 2018

which of the following cannot be classified as a natural resource

Airon rod
Bwild life
Csolar energy
Dgold
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Question 437
waec 2018

one benefit a country can derive from the extraction of crude oil is increase in?

Apopulation
Bemployment
Cmoney
Ddemand for imports
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Question 438
waec 2018

An electrical engineer who is teaching physics in a secondary school is said to be 

Aunder-employed
Bunemployed
Cfully employed
Dtechnically unemployed
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Question 439
waec 2018

The International bank for reconstruction and development (IBRD) performs the following functions except?

Agranting long-term loans
Bassisting with technical expertise
Creducing tariff among members
Ddeveloping human resource
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Question 440
waec 2018

which of the following forms of economic integration is a member nation free to impose duty against

Acustom union
Bfree trade area
Ccommon market
Deconomic community
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