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.

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

130 questions
Question 1 of 10 130 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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