Economics Past Questions

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

139 questions
Question 1 of 20 139 total questions
Question 51
jamb 2018

An economy in which both the public and private sectors contribute to economic growth is a__________?

Asocialist economy
Bfeudal economy
Cmixed economy
Dcapitalist economy
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Question 52
jamb 2018

The transfer of public share holding in corporations to private enterprise is___________?

AIncorporation
BConcession
CPrivatization
DCommercialization
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Question 53
jamb 2018

The labour force of a country is determined by the___________

Ageographical distribution of the population
Bage structure of the population
Cnumber of people available for work
Dsex distribution of the population
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Question 54
jamb 2018

An ad valorem tax is imposed on_____?

AExports
BImports
CThe Value of a Commodity
DSpecial Commodities
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Question 55
jamb 2018

From the diagram shown, the optional point of production is_____________?

AR
BT
CS
DU
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Question 56
jamb 2018

Given that Y = C + I, where C = 50 + 0.75Y and I = N45m, what is the equilibrium level of income?

AN20m
BN380m
CN200m
DN180m
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Question 57
jamb 2018

In the history of economics the concept of division of labour is usually associated With______________-

AKarl Marx
BAdam Smith
CDavid Ricardo
DJ.M Keynes
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Question 58
jamb 2018

The coefficient of the price elasticity of supply is always_____________

AConstant
BZero
CPositive
DNegative
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Question 59
jamb 2018

An upward movement along the same supply curve result in_____________

Aa decrease in price
Ban increase
Can increase in quantity supplied
Da decrease In quantity supplied
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Question 60
jamb 2018

The effects on the demand for product A caused by a change in the price of product B is Called____________

AJoint demand
Bcross-elasticity of demand
Celasticity of supply
Dcompetitive demand
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Question 61
jamb 2018

Concentrating industries in one place is advantageous because there are gains in terms of_____________

Acost economies
Beconomies of scale
Cinternal economies
Dexternal economies
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Question 62
jamb 2018

By utility we mean____________

Abeneficial
Bpower of satisfying a want
Cadvantageous
Dconsumable
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Question 63
jamb 2018

From the graph above the consumer will attain equilibrium at point_______________

AJ
BK
CM
DL
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Question 64
jamb 2018

The money paid per hour for work done is_________

Acost
Bsalary
Cbonus
Dwage rate
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Question 65
jamb 2018

If the price elasticity of demand for a good is 0.43 an increase in the price of the good will result in____________

Aa decrease in profit by 43%
Ban increase in profit by 43%
Ca net loss
Da net gain
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Question 66
jamb 2018

If the price of a ball point pen falls from N1.00 to N0.60 and the quantity demanded increases. from 200 to 300, the point elasticity of demand is equal to____________

A0.50
B0.40
C1.25
D0.80
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Question 67
jamb 2018

A limited liability company is owned by________________

Aa bank
Ban individual
Ctwo or more partners
Dshare holders
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Question 68
jamb 2018

Which of the following is not a direct tax?

Acapital gains tax
Bpurchase tax
Cpersonal income tax
Dcapital tax
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Question 69
jamb 2018

When elasticity is zero, the demand curve is_____________

Acircular
Bdownward sloping
Cperfectly inelastic
Dconcave
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Question 70
jamb 2018

The current stage of the economy is depicted in curve I. The movement of curve I to II suggests___________

Aan Improvement in capital goods technology but not In consumer goods technology
Ba movement from unemployment to full employment
Cthat the output for the society has declined
Da gain in consumer goods technique and not in capital goods technique
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