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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
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Question 1 of 20 4,545 total questions
Question 721
waec 2013
Which of the following is a function of merchant banks?
AActing as bankers' bank.
BLending to the commercial banks as a last resort
Ccontrolling inflation in the economy
Dunderwriting and issuing of shares
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Question 722
waec 2013
General rise in the price level induced by increased price of inputs is referred to as
Arun-away inflation
Bcost -push inflation
Cdemand -pull inflation
Dimported inflation
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Question 723
waec 2013
In the balance of payments of a country, tourism is classified under
Acapital account
Binvisible trade
Cmerchandise trade
Dofficial reserves
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Question 724
waec 2013
Trade between two countries is known as
Abilateral trade.
Bbilateria trade
Cmultilateral trade
Dinternal trade
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Question 725
waec 2013
All economic systems must decide what to produce because
Aresources are not available
Bconsumers want maximum satisfaction
Cresources are limited in supply
Dproducers want maximum profit
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Question 726
waec 2013

A debenture holder earns

Acommission
Bprofits
Cfixed interest
Dquasi-rent
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Question 727
waec 2013
Which of the following is not a function of an insurance company?
Apooling resources together against risks
BMobilization of funds through premiums collected
CEncouragement of investment by security of capital
Dcollection of deposits from the public for investment
View Explanation & Discuss
Question 728
waec 2013
In Economics , a market is defined as any
Aagreement made for consumers to buy all they need
Bngement made for producers sell all their goods
Cagreement to sell commodities at low prices
Darrangement whereby the buyers and sellers are in contact
View Explanation & Discuss
Question 729
waec 2013
The action of government to forgo road construction in order to provide more health facilities denotes
Asound economic decision
Bopportunity cost
Cpracticable government policy
Dscale of preference
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Question 730
jamb 2013
The total revenue of the firm is represented by
AGHEF
BGHJC
CEFJC
DGHOB
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Question 731
jamb 2013
The optimum level of output of the firm is
ABC
BOB
COS
DBS
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Question 732
jamb 2013

From the graph above, R represents

Amarginal cost
Btotal cost
Cvariable cost
Dfixed cost
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Question 733
jamb 2013

From the indifference curve above, consumer will prefer combination

AF
BS
CM
DK
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Question 734
jamb 2013

From the graph above, the price elasticity of demand is

Aunitarily elastic
Bperfectly elastic
Cperfectly inelastic
Dfairly inelastic
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Question 735
jamb 2013

If Mr. X lost his clerical job at a store and searched for a similar job for ten months before finding one this implies that Mr.X was

Astructurally unemployed
Bfrictionally unemployed
Cseasonally unemployed
Dcyclically unemployed
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Question 736
jamb 2013

A valid explanation for real wage growth is

Aan increase in the rate of productivity
Bthe rising cost of capital accumulation
Ca contraction of emploment in service industries
Dan increase in the quantity of labour
View Explanation & Discuss
Question 737
jamb 2013

The rate of interest change on loans depends largely on

Athe prevailing exchange rate
Bmarginal efficiency of capital
Cthe risk associated with the loan
Dthe prevailing tax rate
View Explanation & Discuss
Question 738
jamb 2013

One of the main achievements of the Economic Commission for Africa is

Aeliminating trade restrictions among states
Bencouraging transport and communication development
Cguaranteeing a steady flow of foreign investment into Africa
Dproviding the machinery for collaboration on monetary issues
View Explanation & Discuss
Question 739
jamb 2013

A fiscal policy instrument that can influence the demand pattern in an economy is

Agovernment spending
Binterest rate
Cincome tax
Dtariff
View Explanation & Discuss
Question 740
jamb 2013

A measure for preventing the external value of the naira from falling is for the government to

Aincrease its spending with foreign reserve
Bsell its own currency
Creduce interest rate
Dbuy its currency with foreign reserve
View Explanation & Discuss
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