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 571
jamb 2016

A company's expenditure on raw materials is termed as_______?

APrime cost
BExplicit cost
CAverage cost
DImplicit cost
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Question 572
jamb 2016

Localization of industry is encouraged because of

ALow interest charges on loans
BHigh standard of living
CLow foreign exchange rate
DImprovements in infrastructure
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Question 573
jamb 2016
\(\begin{array}{c|c}
Price (N) & 20 & 16 \\
\hline
\text{Quantity demanded} & 100 & 58
\end{array}\)

From the table above, the elasticity of supply is_____?
AInelastic supply
BPerfectly elastic
CElastic supply
DUnitary elastic
View Explanation & Discuss
Question 574
jamb 2016

Which of the following can cause oil glut in the International market?

AExcess demand over supply
BUnder- capacity utilization
CExcess supply over demand
DEconomic boom
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Question 575
jamb 2016

Population growth is determined by_______?

ADependency ratio
BLabour force
CPer capita
DNet migration
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Question 576
jamb 2016

A government budget proposing to spend more than its expected revenue in a year will create_______?

AOpportunity for combating inflation
BDepression in the economy
CShortage in money supply
DOpportunity for full employment
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Question 577
jamb 2016

A country's terms of trade can be improved by________?

ARevaluation of currency
BCollective bargaining
CReducing demand for imported goods
DImposing lower export duties
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Question 578
jamb 2016

Consumers allocate their resources based on the ______?

ALaw of diminishing marginal utility
BValue in use and value in exchange principle
CLaw of returns to scale
DDiamond and water paradox
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Question 579
jamb 2016

The slow pace of industrial growth in Nigeria can be attributed to__________?

Alack of raw materials
Black of market for produce
Cinadequate skilled labour
Dover-dependence on the oil sector
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Question 580
jamb 2016

If the marginal propensity to save is 0.8, calculate the multiplier?

A1.25
B5.00
C1.30
D2.25
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Question 581
jamb 2016

Public ownership of productive factors is a feature of_______?

ASocialism
BCapitalism
CFeudalism
DMixed economy
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Question 582
jamb 2016

One of the factors affecting change in demand for a commodity is the _______?

ASupply of the commodity
BAvailability of the substitutes
CPrice of the commodity
DTechnical know-how
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Question 583
jamb 2016
The supply curve above is
AFairly inelastic
BPerfectly inelastic
CUnitary elastic
DPerfectly elastic
View Explanation & Discuss
Question 584
jamb 2016

The demand for two or more commodities to satisfy a particular want is _____?

ADerived
BComposite
CCompetitive
DJoint
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Question 585
jamb 2016

In Nigeria, unemployment can be minimized through______?

ADiversification of the economy
BStrict immigration law
CPaying unemployment benefits
DRestrictive fiscal policy
View Explanation & Discuss
Question 586
jamb 2016

The concept of marginal utility indicates the relationship between utility and _________?

APrice
BSatisfaction
CCost
DRevenue
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Question 587
jamb 2016

One of the characteristics of private enterprises is ______?

AProvision of welfare to the citizens
BThat tax payers bear all the risks
CPublic ownership of shares
DIndividual funding of business activities
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Question 588
jamb 2016

One major problem encountered by ECOWAS is_______?

AConflict of interest among members
BIncreasing population
CWeakness in the trade relationship
DLanguage barrier
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Question 589
jamb 2016
In Nigeria, most agricultural policies are aimed at______?
AEnsuring equitable distribution of income
BLiberalizing all sectors of the nation's economy
CEncouraging the development of manufacturing sector
DAchieving self-sufficiency in food production
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Question 590
jamb 2016

The price elasticity of supply of perishable goods is_________?

AElastic
BUnitary
CInelastic
DZero
View Explanation & Discuss
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