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 431
waec 2018

one advantage of international trade is that

Aprices of goods become stable
Bcountries become self-sufficient
Cgoods consumed are produced at a very high cost
Dit makes possible the consumption of variety of goods
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Question 432
waec 2018

Nations engage in international trade because of difference in?

Aabsolute cost
Bcomparative cost
Cfixed cost
Dvariable cost
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Question 433
waec 2018

which of the following is not a measure for reducing balance of payments deficits?

Aexport drive
Breducing tarriffs
Cadding to export goods
Dincreasing local production
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Question 434
waec 2018

which of the following measure can be adopted to stabilize the external value of the local currency?

Areduce the volume of export
Bincrease the demand for imports
Cincrease domestic money supply
Dreduce the demand for imports
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Question 435
waec 2018

the poorer the country, the larger the percentage of labour force engaged in?

AAgricultural
Bmining
Ctrading
Dmanufacturing
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Question 436
waec 2018

which of the following activities will not lead to economic growth?

Amassive importation of capital goods
Bintensive capital formation locally
Cuse of modern technology
Dmassive importation of consumer goods
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Question 437
waec 2018

in order to increase revenue, government should tax commodities for which demand is? 

Aperfectly price inelastic
Bprice inelastic
Cprice elastic
Dunitary elastic
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Question 438
waec 2018

income is redistributed when the rich are progressively taxed and?

Amore private schools are established
Bsubsidy is provided on petroleum products
Cmore public goods are provided
Dfarmers are given guaranteed prices
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Question 439
waec 2018

what happens when the central bank increases bank rate in an economy

Aborrowing is discouraged
Bcustomers increase their borrowing
Cbanks can increase their lending
Dmoney supply increases
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Question 440
waec 2018

the stock exchange is an example of the?

Alabour market
Bmoney market
Ccommodity market
Dcapital market
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Question 441
waec 2018

if a housewife has meat and tomatoes, she must find someone who wants meat and has tomatoes to give. this concept is described as?

Aopportunity cost
Bscale of preference
Ccomplementary demand
Ddouble of coincidence of wants
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Question 442
waec 2018

Holding money to take care of contigencies is?

Aa speculative motive
Ba transaction motive
Ca precautionary motive
Dan expansionary motive
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Question 443
waec 2018

demand pull inflation is likely to be caused by?

Aan increase in the cost of factors inputs
Bincrease in the income tax rate
Cincrease in bank lending rates
Dincreasingly large budget deficit
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Question 444
waec 2018

in a country with large population of full-time housewives, national income 

Awill be composed of goods produced by women
Bfigures will be grossly over-stated
Cstatistics will be difficult to calculate
Dfigures will be grossly under-stated
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Question 445
waec 2018

A baker bought flour and other ingredients for $250.00, spent $52.00 on distribution, sold the bread for $320.00. the value added by the baker is?

A$302.00
B$52.00
C$18.00
D$622.00
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Question 446
waec 2018

The largest component of national income in developing countries consist of?

Aprofits
Bprofit and rent
Crent
Dwages and salaries
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Question 447
waec 2018

an industry is described as a group of firms

Athat provides jobs for many people
Bwhich uses advance technology in production
Cwhich produces similar products
Dthat provides jobs for few people
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Question 448
waec 2018

local firms can help in reducing unemployment in a country when?

Aland acquisition becomes centralized
Bimports of substitutes are reduced
Cwaste in the firm is eliminated
Dsubsidies to firms are decreased
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Question 449
waec 2018

which of the following factors is not a reason for farmer's unstable incomes

Adependence on too many crops
Bpoor storage facilities
Cadverse weather condition
Drecession in the world economy
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Question 450
waec 2018

positive checks as envisaged by Thamos Malthus can be prevented if

Adate rate is reduced
Bmarriage is abolished
Cmore hospitals are built
Dmore restraint is adopted
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