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.

2,540 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

Past Questions

2,540 questions
Question 1 of 20 2,540 total questions
Question 531
jamb 2008

The active population of a country determines the size of its

Aeconomic resources
Bnational income
Clabour force
Dgross domestic product
View Explanation & Discuss
Question 532
jamb 2008

Joint-stock companies can raise funds from

Athe money market
Bthe capital market
Cvarious sources
Dgovernment
View Explanation & Discuss
Question 533
jamb 2008

The economic policy of privatization came up as a result of the poor performance of

Acommercial banks
Bsmall-scale businesses
Cpublic enterprises
Dprivate enterprises
View Explanation & Discuss
Question 534
jamb 2008

The activities in the oil and gas industry are classified into

Aexploration and transportation
Bupstream and downstream
Cdiscovery and extraction
Donshore and offshore
View Explanation & Discuss
Question 535
jamb 2008

The exports-promotion strategy is aimed at producing

Aconsumer goods originally imported
Bmachinery for industries
Cmore goods for exports
Dmore goods domestic consumption
View Explanation & Discuss
Question 536
jamb 2008

A major consideration in locating a cement factory is the availability of

Askilled labour
Bpower
Cinfrastructural facilities
Dlimestone
View Explanation & Discuss
Question 537
jamb 2008

A major impediment to the development of agriculture in Nigeria is

Aland use system
Binadequate supply of farm inputs
Clow income of farmers
Dlimited research on seedlings
View Explanation & Discuss
Question 538
jamb 2008

One of the effects of instability in farmer's income in Nigeria is

Alack of infrastructural facilities
Brural-urban migration
Cinadequate supply of fertilizer
Dlow level of technology
View Explanation & Discuss
Question 539
jamb 2008

Economic growth takes place when there is an increase in

Asavings over time
Binvestment over time
Cpopulation over time
Doutput over time
View Explanation & Discuss
Question 540
jamb 2008

A good indicator of economic development is an increase in

Agross national product
Bper capital income
Creal national income
Dreal per capital income
View Explanation & Discuss
Question 541
jamb 2008

An example of an indirect tax is

Aprofit tax
Bsales tax
Ccapital gain tax
Dpoll tax
View Explanation & Discuss
Question 542
jamb 2008

The use of government revenue and expenditure to achieve set objectives is known as

Abudget
Bfiscal policy
Crevenue allocation
Dmonetary policy
View Explanation & Discuss
Question 543
jamb 2008

Contractionary monetary policy is used to

Acontrol inflation
Bbridge the deflationary gap
Cexpand the output level
Dderegulate the economy
View Explanation & Discuss
Question 544
jamb 2008

If the required reserves of a bank is 20% and N10 000 is paid into its demand deposit account, what is the excess reserves?

AN2000
BN18 000
CN12 000
DN8 000
View Explanation & Discuss
Question 545
jamb 2008

The high rate of inflation in Nigeria can be attributed to

Aincreasing cost of production
Bthe appreciation of the naira
Cdecreasing cost of production
Dhigh capacity utilization
View Explanation & Discuss
Question 546
jamb 2008
The theoretical relationship between money supply and prices is weakened by changes in the
Amoney supply
Bgeneral price level
Cvelocity of money
Dinterest rate
View Explanation & Discuss
Question 547
jamb 2008

An example of injection into the circular flow of income is

Ataxes
Bpensions
Cimports
Dexports
View Explanation & Discuss
Question 548
jamb 2008

The output approach to measuring national income is based on the computation of

Afinal output
Bfactor cost
Cvalue added
Dprofits earned
View Explanation & Discuss
Question 549
jamb 2008
Which of the following producer is closest to being a monopolist?
AA baker
BA wheat farmer
CA large chain store
DAn automobile plant
View Explanation & Discuss
Question 550
jamb 2008

The characteristic of entry and exit ensures that firms

Aearn excess profit
Bearn normal profit
Cbreak-even
Dexpand their operations
View Explanation & Discuss
Question Navigator
Current
MathsFaculty