Economics Past Questions

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

147 questions
Question 1 of 20 147 total questions
Question 51
jamb 2009

If the contribution of the oil sector is N3.6 million, what is the contribution of the other sectors?

AN10.8 million
BN7.2 million
CN3.6 million
DN2.4 million
View Explanation & Discuss
Question 52
jamb 2009

The percentage contribution of the transport sector is:

A600.0
B166.7
C60.0
D16.7
View Explanation & Discuss
Question 53
jamb 2009

When workers have a union, the supply of labour is said to be

Amonopolistic
Boligopolistic
Cmonopsonistic
Dcompetitive
View Explanation & Discuss
Question 54
jamb 2009

The mobility of labour is mainly determined by

Athe age of workers
Bgovernment policy
Ctrade unions
Dwage rate differentials
View Explanation & Discuss
Question 55
jamb 2009

Occupational distribution of population determines the

Asize of a population available and willing to work
Bpopulation density of a place
Cdependency ratio of a country
Dsize and categories of the labour force
View Explanation & Discuss
Question 56
jamb 2009

High dependency ratio is influenced by

Ahigh infant mortality rate
Bthe level of income
Chigh birth rate
Dinadequate medical care for children
View Explanation & Discuss
Question 57
jamb 2009

Activities in the oil and gas industry are classified into

Aoil exploration and distribution
Brefining and marketing of finished products
Cupstream and downstream
Dexploration and drilling
View Explanation & Discuss
Question 58
jamb 2009
The current industrial development strategy in Nigeria is aimed at encouraging
Asmall-scale industries
Bmedim-scale industries
Csmall-and medium-scale industries
Dmedium-and large-scale industries
View Explanation & Discuss
Question 59
jamb 2009

Industries for consumer goods are concentrated in urban centers as a result of

Alarge market
Bpower supply
Cgovernment policy
Dweather conditions
View Explanation & Discuss
Question 60
jamb 2009

In Nigeria, the location of a steel industry at Ajaokuta is due to

Athe availability of transport ntwork
Bthe proximity to source of power
Cthe proximity to large deposits of iron ore
Dpolitical consideration
View Explanation & Discuss
Question 61
jamb 2009

To enhance the competitiveness of domestic agricultural products, there is need to

Aban the importation of a agricultural products
Bincrease the exportation of agricultural products
Cimprove the quality of domestic agricultural products
Dincrease the output of domestic agricultural products
View Explanation & Discuss
Question 62
jamb 2009

The marketing of agricultural products in Nigeria can be improved by

Aa massive production of farm produce
Bre-establishing the marketing boards
Cestablishing more agricultural banks
Dprocessing of farm produce
View Explanation & Discuss
Question 63
jamb 2009

A public liability company is run on a daily basis by

Athe chief executive
Bthe shareholders
Cthe board of directors
Dfinancial consultants
View Explanation & Discuss
Question 64
jamb 2009

The major problem confronting a sole proprietor is

Ahigh level of risk
Blimited expertise
Climited source of capital
Dhigh taxation
View Explanation & Discuss
Question 65
jamb 2009

An important function of the World Bank is to

Aprovide short-run loans to members
Bencourage trade between members
Cpromote capital-intensive production
Dprovide long-time loans to members
View Explanation & Discuss
Question 66
jamb 2009
Guided deregulation as currently practised in Nigeria implies that
Amarket force determine interest and exchange rates
Bgovernment alone determines interests and exchange rates
Cmarket forces and government determine interest and exchange rates
Dexchange rate is regulated while interest rate is fixed
View Explanation & Discuss
Question 67
jamb 2009
Dumping in international trade means selling a goods at a
Ahigher price at home than abroad
Blower price at home than abroad
Cprice that equates marginal cost with marginal revenue
Dprice above marginal cost abroad
View Explanation & Discuss
Question 68
jamb 2009

According to the theory of comparative advantage specialization will result in

Alabour-intensive method of production
Bcapital-intensive method of production
Cefficient allocation of resources
Defficient distribution of output
View Explanation & Discuss
Question 69
jamb 2009
The major reason why countries strive to achieve optimum growth is to
Abe self-sufficient
Braise general living standards
Craise the level of production
Dreduce aggregate expenditure
View Explanation & Discuss
Question 70
jamb 2009

If government expenditure exceeds revenue, this result in

Abalanced budget
Bnational debt
Cbudget deficit
Dbudget surplus
View Explanation & Discuss
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