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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.

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

147 questions
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Question 1 of 7 147 total questions
Question 71
jamb 2009

A major assumption in cardinal utility theory is that

Autility is measureable
Butility is not measurable
Ctotal utility equals marginal utility
Dtotal utility is constant
View Explanation & Discuss
Question 72
jamb 2009

The demand curve for a luxury good is

Anegatively sloped
Bparallel to the price axis
Cparallel to the quantity axis
Dpositively sloped
View Explanation & Discuss
Question 73
jamb 2009

A movement along the same demand curve is caused by the

Aprice of the product
Bprice of other products
Cincome of the consumer
Dtaste of the consumer
View Explanation & Discuss
Question 74
jamb 2009

The privatization exercise in Nigeria is a move towards a

Amixed economy
Bsubsistence economy
Cmarket economy
Dcommand economy
View Explanation & Discuss
Question 75
jamb 2009

A cumulative frequency graph is

Aa histogram
Ban ogive
Ca bar chart
Da pie chart
View Explanation & Discuss
Question 76
jamb 2009

A typical feature of a market economy is that

Aall producers make profit
Bfull employment exists
Cconsumer sovereignty exists
Dthere is equality of economic agents
View Explanation & Discuss
Question 77
jamb 2009

Musa has a choice of buying a shirt, a book and a bag. What is the opportunity cost of buying a book?

AA bag only
BA book and a bag
CA shirit and a bag
DA shirit only
View Explanation & Discuss
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