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.

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

89 questions
Question 1 of 9 89 total questions
Question 41
jamb 2020

A budget with a projected revenue in excess of its expenditure is said to be?

Abalanced
Bsurplus
Cdeficit
Dinflationary
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Question 42
jamb 2020

What form of market is found in an imperfect competition where there are few buyers and many sellers

Amonopoly
Boligopoly
Cduopoly
Doligopsony
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Question 43
jamb 2020

Which of the following is used by the central bank to control the rate of interest

Abill of exchange
Bbanker's order
Cfixed deposit account
Dopen market operation
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Question 44
jamb 2020

To control inflation, the monetary authorities of a country can

Areduce taxes
Badvise the government to increase its expenditure
Cengage in expansive monetary policies
Dengage in restrictive monetary policies
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Question 45
jamb 2020

The Nigerian bank for commerce and industry is?

Aa commercial bank
Ba development bank
Can industrial bank
Da merchant bank
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Question 46
jamb 2020

A major factor affecting the value of money is the?

Aprice level
Bbanking habits
Ctransaction motive
Ddivisible nature of money
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Question 47
jamb 2020

Which of the following is an example of an invisible item on the balance of payments account

Ashipping and aviation
Bexports and imports
Cmerchandise
DBullion
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Question 48
jamb 2020

Economics is often described as a social science because?

Alaboratory experiments are performed
BIt makes use of controlled experiments
CIt uses scientific methods to explain an observed phenomenon and predict future events
DIt makes use of fieldwork
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Question 49
jamb 2020

Scarcity in economics means?

Ahuman wants are limitless
Bthe economy has very few resources
Cthe economy can scarcely produce anything
Dresources are limited in relation to wants
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