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 61
jamb 2025

 

 

 

The balance of trade is

 

Aan annual statement showing transaction within a country
Bthe relationship between a country's receipt from visible and invisible trade
Can account that shows a country's payment to other countries
Dthe relationship between a country's visible exports and imports
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Question 62
jamb 2025

The graph of the function X = a + bY is

 

 

Alinear
Bquadratic
Cexponential
Dcubical
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Question 63
jamb 2025

Net migration is the difference between

 

APer capita income and population
BInternal and external migration
CPopulation and census
DImmigrants and Emigrants
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Question 64
jamb 2025

 

The primary objective of the Nigerian Industrial Development Bank (NIDB) is the provision of provision of loans to?

 

 

AEstate agents
BTransporters
CFarmers
DManufacturers
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Question 65
jamb 2025

Which of the following is not an argument for the policy of privatization in West Africa?

 

 

ATo make businesses more profitable
BGovernment is able to participate and control the operation of the privatized businesses
CIt encourages the inflow of capital and expertise from local and foreign sources
DMembers of the public are able to acquire shares
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Question 66
jamb 2025

In a free market economy, resources are allocated through the

 

 

Astate planning committee
Bgovernment department
Cprice mechanism
Dtrade union
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Question 67
jamb 2025

 

The Consumers Co-operative society is owned by?

 

 

 

AMembers of the society
BDebenture holders
CA management committee
DThe government
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Question 68
jamb 2025

If in the short-run commodity X and commodity Y are supplied jointly, which of the following is correct?

 

AAn increase in demand for Y will raise the price of X
BAn increase in demand for X will cause less of Y to be produced
Can increase in demand for X will increase supply of Y
DAn increase in demand of X will leave the supply of Y unchanged
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Question 69
jamb 2025

The specialisation of labour enhances production because people

 

Abecome experts in all areas of production
Bcan efficiently produce their own needs
Ccan save time and produce more
Dcan concentrate on all goods they can produce better
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Question 70
jamb 2025

Which of the following statements is not a feature of a monopoly?

 

ANew entrances are restricted
BBuyers and seller are price takers
CThere is only one seller of the commodity
DSeller is allowed to fix his own price
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Question 71
waec 2024

Exploitation of solid minerals in developing countries can stabilize their revenue base mainly because it helps in 

Apromoting a mono-economy.
Bthe transfer of technology.
Cthe diversification of the economy.
Dthe provision of energy.
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Question 72
waec 2024

One major achievement of the Eco- nomic Commission for Africa (ECA) is the 

Asetting up of the African Development Bank (AfDB).
Bprovision of long-term loans to non-members.
Creduction of balance of payments problems in Africa.
Dremoving the gap between African countries and the rich nations.
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Question 73
waec 2024

Harmonised monetary and fiscal policies is a feature of 

Aa free trade area.
Ban economic union.
Ca customs union.
Da common market.
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Question 74
waec 2024

Short-term deficits in the current account of the balance of payments can be financed by balancing with the 

Ainvisible account.
Bcapital account.
Cvisible account.
Dnational income account.
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Question 75
waec 2024

Terms of trade is favourable when the 

Avalue of visible imports is greater than that of visible exports.
Bprice on imports is greater than that of exports
Cpayments on imports is greater than receipts from exports.
Dprice of exports is rising faster than that of imports.
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Question 76
waec 2024

Devaluation of currency will help to correct balance of payments deficit if a country's 

Aexports have perfectly inelastic demand.
Bimports have inelastic demand.
Cexports have elastic demand.
Dproductivity is low.
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Question 77
waec 2024

Balance of payments is defined as the 

Adifference between the values of visible imports and visible exports.
Brecord of financial transactions between a country and the rest of the world.
Crelationship between prices of exports and prices of imports.
Ddifference between a country's expected revenue and proposed expenditure
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Question 78
waec 2024

One indicator of the low level of cap ital formation in developing countries is

Alow per capita income.
Bhigh rate of investment.
Clow importation of consumer goods.
Dhigh rate of household savings
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Question 79
waec 2024

An increase in a country's production capacity usually leads to economic 

Adevelopment.
Bstability.
Cgrowth
Defficiency.
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Question 80
waec 2024

A commodity with perfectly inelastic demand has the burden of tax borne by 

Aboth the sellers and the buyers.
Bthe buyers alone.
Cthe government alone.
Dboth the buyers and the government.
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