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
Download PHP app Ask a Question Check Syllabus Past Question Videos Topic Video Lessons

Take a test

Past Questions

4,545 questions
Question 1 of 20 4,545 total questions
Question 671
waec 2014

Examples of joint stock banks are

Acommercial banks
Bco-operative credit societies
Ccentral banks
Ddevelopment banks
View Explanation & Discuss
Question 672
waec 2014

Other things being equal, an increase in supply will lead to

Aa fall in price and an increase in quantity bought and sold
Ban increase in price and increase in quantity bought and sold
Ca fall in price and a fall in quantity bought and sold
Dan increase in quantity supplied and demanded only
View Explanation & Discuss
Question 673
waec 2014

Which of the following agencies help to stabilize farmers' income?

ALocal government authorities
BTrade unions
CMarketing boards
DCo-operative organizations
View Explanation & Discuss
Question 674
waec 2014

A declining population is one in which the population is

Aexperiencing a high rate of emigration
Bmade up of large number of old people
Cnot producing enough goods
Dnot contributing enough to the national income
View Explanation & Discuss
Question 675
waec 2014

The components of a three-sector economy are

Abanks, schools and hospitals
Bworkers, producers and marketers
Chouseholds, firms and the government
Dproducers, retailers and wholesalers
View Explanation & Discuss
Question 676
waec 2014

Livestock production in West Africa is hindered mainly by

Ainadequate demand
Buse of traditional implements
Cland tenure system
Dpests and diseases
View Explanation & Discuss
Question 677
waec 2014

Disposable income is the income earned

Aby the nationals of a country resident within the country
Bfrom prouctive activities of nationals of a country both at home and abroad
Cwhen personal income tax is deducted from personal income
Dwhen the gross income of an individual is added to person income tax
View Explanation & Discuss
Question 678
waec 2014

To control inflation, the central bank of a country may adopt

Aan expansionary monetary policy
Ba restrictive monetary policy
Can increased wage policy
Da deficit financing policy
View Explanation & Discuss
Question 679
waec 2014

A normal supply curve has a positive slope which indicates that

Asellers are willing to sell more at a lower price
Bsellers are indifferent to prices
Csellers are willing to sell more at a higher price
Dthere is always a fixed supply
View Explanation & Discuss
Question 680
waec 2014

Households make economic decisions because they want to

Amake more profit
Bincrease their salaries and wages
Cincrease their purchases
Dmaximize their satisfaction
View Explanation & Discuss
Question 681
waec 2014

Which of following is not a feature of socialism?

ACollective ownership of productive resources
BFreedom of enterprise
Cproduction is not based on the profit motive
DMaximization of public welfare
View Explanation & Discuss
Question 682
waec 2014

In a centrally planned economy, what to produce is

Adetermined by the forces of demand and spply
Bdriven by profit motive
Cdetermined by consumers
Dthe responsibility of state's bureaucrats
View Explanation & Discuss
Question 683
waec 2014

A basic economic problem of any society is

Ahigh level of illiteracy
Birregular power supply
Cpopulation growth
Dresource allocation
View Explanation & Discuss
Question 684
waec 2014

Human want are unlimited because

Aproduction is inadequate
Bresources have alternative uses
Cnew wants always rise
Dresources are limited
View Explanation & Discuss
Question 685
jamb 2014

Given that Qd = 40-2P and Qs = 6P+24. Calculate the equilibrium price.

A34
B32
C36
D16
View Explanation & Discuss
Question 686
jamb 2014

From the table above, find the values of E and F respectively

A27 and 1
B68 and 12
C28 and 5
D12 and 19
View Explanation & Discuss
Question 687
jamb 2014

From the table above, Calculate the price elasticity of supply

A0.50
B0.80
C2.00
D1.25
View Explanation & Discuss
Question 688
jamb 2014
From the graph above, the consumer will attain equilibrium at point
AJ
BK
CL
DM
View Explanation & Discuss
Question 689
jamb 2014
A combination of factors responsible for a shift from DoDo to D1D1 are
Aconsumers income and change in technology
Bprice of the commodity and weather conditions
Cconsumers income and population size
Dconsumers taste and change in price
View Explanation & Discuss
Question 690
jamb 2014

If the national income is 60m, the contribution of the manufacturing sector is

A18m
B17m
C12m
D9m
View Explanation & Discuss
Question Navigator
Current
MathsFaculty