Log In SignUp
Classroom

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.

85 questions JAMB 2540 WAEC 1723 NECO 272 CUSTOM 10
Download PHP app Ask a Question Check Syllabus Past Question Videos Topic Video Lessons

Take a test

Custom CBT

Create and set up a CBT environment with your preferred subjects.

JAMB CBT Simulator

Practice JAMB CBT with real UTME past questions in CBT format.

WAEC CBT Practice 2026 Simulator

CB-WASSCE styled past question practice.

NECO CBT Practice 2026 Simulator

SSCE & GCE styled past question practice.

Past Questions

85 questions
All JAMB WAEC NECO CUSTOM
All years 2025 2024 2023 2022 2021 2020 2019 2018 2017 2016 2015 2014 2013 2012 2011 2010 2009 2008 2007 2006 2005 2004 2003 2002 2001 2000 1999 1998 1997 1996 1995 1994 1993 1992 1991 1990 1989 1988 1987 1986 1985 1984 1983 1982 1981 1980 1979 1978
Question 1 of 5 85 total questions
Question 41
jamb 1994
In a mixed economy, decisions to produce are taken by?
Amen and women acting in their own best interest
Bthe government acting in the interest of the country
Cthe market women, the labour unions and the employers association
Dprivate individuals, organization and the government
View Explanation & Discuss
Question 42
jamb 1994
The necessity of choice is due to the fact that?
Ahuman wants are insatiable
Bconsumers like to maximize satisfaction
Cresources are abundant
Dconsumers are selective
View Explanation & Discuss
Question 43
jamb 1994

The circular flow of income defines the?

Arelationship between ends and means in the economic system
Ballocation of income to various members of the household
Cflow of goods, services amd money among the various micro-sectors of the economy
Dmicro-economic relationships in economic analysis
View Explanation & Discuss
Question 44
jamb 1994
Opportunity cost is an economic concept which describes the?
Amonetary equivalent of the utility of a commodity
Bamount of time or money invested on a commodity
Csacrifice made for the satisfaction of a want
Dcost of retaining an optimum level of production of commodities
View Explanation & Discuss
Question 45
jamb 1994
The basic economic problems of the society include?
Awhat to produce, how and for whom
Bhow to produce and sell
Cscarcity, when to produce and how
Dscarcity, for whom to produce and where
View Explanation & Discuss
Question Navigator
Current
MathsFaculty