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.

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 601
waec 2015

The proportion of commercial banks' total assets kept in the form of highly liquid assets is known as 

Ademand deposit
Bfixed deposit
Ccash ratio
Dmoral suasion
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Question 602
waec 2015

The main item traded on a stock exchange market is 

Atreasury bills
Btravellers cheque
Cforeign currencies
Dnew shares
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Question 603
waec 2015

An industry is best described as 

Afirm that sells a set of closely related commodities
Ba factory that produces different lines of product
Ca group of firms that sells a closely related set of products
Dindustrial concern that is into production and selling of goods
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Question 604
waec 2015

In developing countries, a larger percentage of the labour force is employed in the

Atrade sector
Btertiary sector
Cprimary sector
Dsecondary sector
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Question 605
waec 2015

which of the following best describes token money?

Amoney in the vaults of commercial banks
Bcurrency and coins in circulation
Cmoney with face value higher than its material content
Dcoins and notes made of poor quality material
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Question 606
waec 2015

In national income accounting, the term ''net'' is used to indicate that a value-----

Aincludes income of foreigners
Bincludes income of citizens
Cincludes depreciation
Dexcludes depreciation
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Question 607
waec 2015

location of firms of an industry is not influenced by?

Aavailability of raw material
Bexistence of other firms
Cnearness to the source of money supply
Dgovernment policy
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Question 608
waec 2015

The difference between the gross domestic product (GDP) and gross national product (GNP) IS?

Adepreciation
Btransfer payment
Cnet income from abroad
Ddirect taxes
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Question 609
waec 2015

which of the following is not a strong basis for trade unions demand for higher wages

Acompany is making higher profit
Bproductivity of workers has increased
Cmembers of the union have high qualifications
Dcommodity produced by the workers is very essential
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Question 610
waec 2015

The movement of labour from one grade to an entirely different grade is an example of?

Aindustrial labour mobility
Bhorizontal occupational mobility
Cvertical occupational mobility
Dgeographical mobility
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Question 611
waec 2015

one reason for low agrictural productivity in most west African countries is that?

Afarmers are not capable of producing cash crops
Bit does not provide income to farmers with large families
Cfarmers find it difficult getting help from financial institutions
Dit is not the only source of raw materials for agro-based industries
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Question 612
waec 2015

which of the following will increase the demand for labour

AIncrease wage rate
Blabour's demand for output
Clow wage rate
Dlow marginal productivity
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Question 613
waec 2015

Frictional unemployment occurs when?

Athere is a change in the technique of production
Bjob seekers lack information where jobs exist
Cbad weather prevents work from progressing
Djob seekers have disabilities
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Question 614
waec 2015

Inflation may occur if there is?

Aexcess supply over demand
Bincrease in productivity
Cexcessive demand with limited supply
Dincreased government spending in a depressed economy
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Question 615
waec 2015

which of the following features distinguishes a public limited company from a private limited company

Aperpetual existence
Blimited liability
Clegal entity
Dsales of shares to the public
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Question 616
waec 2015

which of the following is not a method of controlling monopoly

Apreventing mergers
Bindigenization
Cprivatization
Dimposing high profit tax
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Question 617
waec 2015

which of the following business organisations is likely to experience disagreements between management and shareholders

Aco-operative society
Bsole trader
Cpartnership
Djoint-stock company
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Question 618
waec 2015

which of the following curves is not U shaped

Amarginal cost curve
Baverage fixed cost curve
Caverage total cost curve
Daverage variable cost
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Question 619
waec 2015

By adding all the marginal products at each level of employment of the variable input, we obtain a value equal to 

Aaverage product
Btotal product
Caverage variable cost
Dtotal cost
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Question 620
waec 2015

Total cost is obtain by?

Aadding up the marginal cost at each level
Bdividing the total cost of output at each level
Cadding up the average variable cost at each level
Dadding up the total variable cost and total fixed cost
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