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 681
jamb 2014

What is the percentage contribution of services to the national income?

A15%
B10%
C54%
D24%
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Question 682
jamb 2014

The labour force of a country is determined by the

Aage structure of the population
Bgeographical distribution of the population
Csex distribution of the population
Dnumber of people available for work
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Question 683
jamb 2014
The major determinant of the total volume of output in an economy is the
Alevel of total expenditure
Bcomposition of consumer spending
Cnumber of farmers
Dsize of the labour force
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Question 684
jamb 2014

The main objective of WTO is to

Aensure adequate protection of infant industries
Bprovide a mechanism for tariff reduction
Cassist countries with chronic balance of payments problem
Dassist developing countries to execute developmental projects
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Question 685
jamb 2014

If the importation of a commodity is limited to a definite quantity, the trade control measure imposed is

Aexcise duties
Bimport duties
Cquotas
Dtariff
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Question 686
jamb 2014

A major determinant of floating exchange rate is

Athe highest denomination of the currency
Ban Act of the parliament
Cthe system of government
Dthe forest of demand and supply
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Question 687
jamb 2014

An accurate population census is important in other to

Aproduce more food for the growing population
Bprovide employment opportunities for the people
Cestimate a country's per capita income
Dfast track industrial development
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Question 688
jamb 2014

An accurate census figure is an important tool for planners in

Aproviding employment
Bsiting industries
Cproviding social amenities
Dallocating resources
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Question 689
jamb 2014

The voting power in co-operative societies is vested on

Amanagement
Bmembers without loan
Cshareholders
Dmembers with the highest contribution
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Question 690
jamb 2014

Firms embark on vertical integration in other to

Atake over markets formally controlled by other firms
Bprevent other firms from entering the market
Creduce advertisement and management cost
Denjoy economies of large-scale production
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Question 691
jamb 2014
The short-run average variable cost of a firm will rise owing to
Athe expansion of factory space
Bthe building of new warehouse
Can increase in the cost of labour
Dan increase in the salaries of directors
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Question 692
jamb 2014

The loading of crude oil at the terminal is an activity in the

Adownstream sector of the oil industry
Bupstream and downstream sector of the oil industry
Cupstream sector of the oil industry
Dmidstream and upstream sectors of the oil industry
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Question 693
jamb 2014

The major contribution of OPEC to the Nigerian economy is the

Aprovision of social infrastructures
Bgranting of subsidies on petroleum products
Cstabilization of oil prices
Dbuilding of refineries
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Question 694
jamb 2014

One major factor that determines the location of an industry is

Atax exemption grant
Bits proximity to the market
Cthe capital base
Dthe social responsibility of the firm
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Question 695
jamb 2014

A major disadvantage of localization of industry is

Athe risk of structural unemployment
Bover-utilization of installed industrial capacity
Cthe risk of seasonal unemployment
Dunder-utilization of installed industrial capacity
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Question 696
jamb 2014

An advantage of large-scale farming over peasant farming is in the area of

Aproviding research and massive employment of labour
Bredistributing national income to various regions of the country
Cencouraging the use of traditional implements
Dencouraging urban-rural migration
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Question 697
jamb 2014

An important role of agriculture in Nigeria's economic development is the

Aprocessing of raw materials for industries
Bregulation of price system
Cprovision of infrastructure
Dprovision of employment
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Question 698
jamb 2014

A major feature of an underdeveloped economy is

Aexcess capacity utilization
Blow rate of population growth
Clow level of standard of living
Dlow level of unemployment
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Question 699
jamb 2014

A major obstacle to the development of Nigeria economy is

Alow capital formation
Brural-urban migration
Cover dependence on oil
Dpoor developmental policies
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Question 700
jamb 2014

Wage freeze is a policy measure aimed at

Aencouraging investors
Bcurbing inflation
Cregulating standard of living
Dcurbing deflation
View Explanation & Discuss
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