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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.

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

145 questions
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Question 1 of 5 145 total questions
Question 71
jamb 2007
A firm operating at full capacity will have a
Aperfectly inelastic supply curve
Bperfectly elastic supply curve
Cfairly elastic supply curve
Dfairly inelastic supply curve
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Question 72
jamb 2007
When the demand for a good increases owing to an increase in income, it means that
Athere is an increase in quantity demanded
Binflation has taken place
Cdemand has exceeded supply
Dthere is an increase in demand
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Question 73
jamb 2007
The range is used to
Aestimate the mean from grouped data
Bcalculate the standard deviation
Cdetermine the spread of a set of data
Dmeasure the difference between the mean and the mode
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Question 74
jamb 2007

The choice of what to produce in a command economy is determined by

Aindustrial establishments
Blabour unions
Cthe government and labour unions
Dthe central government
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Question 75
jamb 2007
An economic system in which the producer and the consumer are the same is referred to as a
Amixed economy
Bsubsistence economy
Ccapitalist economy
Dsocialist economy
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