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
Download PHP app Ask a Question Check Syllabus Past Question Videos Topic Video Lessons

Take a test

Past Questions

4,545 questions
Question 1 of 20 4,545 total questions
Question 801
waec 2011

Cost push inflation is caused by a

Arise in the cost of production
Bdecrease in the transportation cost
Crise in demand for goods
Ddecrease in the cost of production
View Explanation & Discuss
Question 802
waec 2011

The demand for money to take advantage of changes in bond prices is the

Aunforeseen motive
Btransaction motive
Cspeculative motive
Dprecautionary motive
View Explanation & Discuss
Question 803
waec 2011

A fall in national output will necessitate

Aa rise in expenditure on imports
Ba rise in the level of savings
Can increase in the consumption of expenditure
Da rise in the standard of living
View Explanation & Discuss
Question 804
waec 2011

When a country's net income from abroad is added to its total output, the result is

Agross domestic product
Bnet national product
Cgross national product
Dnet domestic product
View Explanation & Discuss
Question 805
waec 2011

A tax is regressive if the

Arate of tax is constant at all income levels
Brate of tax decrease as income increases
Crate of tax increases as income increases
Dtax is direct rather than indirect
View Explanation & Discuss
Question 806
waec 2011

National income is used to measure

Aa country's population size
Ba country's economic growth
Cthe human level of development
Dthe flow of imports to a country
View Explanation & Discuss
Question 807
waec 2011

The production strategy used in an over-populated country is

Aimport substitution
Bcapital intensive
Clabour intensive
Dfirst come first employed
View Explanation & Discuss
Question 808
waec 2011

The effect of privatization on the industrial sector of a country is that it

Aensures efficiency
Bdiscourages efficiency
Cleads to decrease in output
Dleads to liquidation
View Explanation & Discuss
Question 809
waec 2011

Which of the following is not true of small companies ? they

ACannot benefit from economies of scale
BAre a good source of new jobs
CCan satisfy demand in specialist markets
DHave a good record of technical innovation
View Explanation & Discuss
Question 810
waec 2011

The following are features of subsistence agriculture except

Alittle capital
Bprocessing of raw materials
Csmall allotments of land
Duse of crude oil
View Explanation & Discuss
Question 811
waec 2011
which of the following is not a consequence of increased unemployment?
Aa fall in tax revenue for the government
Ba reduction in trade union's influence
Ca fall in death rate
Dan increase in the labour force
View Explanation & Discuss
Question 812
waec 2011

Natural growth rate of population can be defined as the

Adifference between birth rate and death rate
Bnumber of births in a year
Cincrease in the population growth in a year
Ddifference between the total population and the death rate
View Explanation & Discuss
Question 813
waec 2011

The grouping of the population according to the economic activities people engage in is

Aage distribution
Bsex distribution
Cgeographical distribution
Doccupational distribution
View Explanation & Discuss
Question 814
waec 2011

If the labour force of a country is 2.5 million and 2 million are employed , what is the unemployment rate?

A0.2%
B20%
C200%
D250%
View Explanation & Discuss
Question 815
waec 2011

Frictional unemployment can be reduced by

Aencouraging the use of retaining schemes
Bremoving barriers to labour mobility
Crestricting the introduction of new technology
Dlowering the level of wages paid to young people
View Explanation & Discuss
Question 816
waec 2011

The increase in population growth in big cities is referred to as

Asettlement
Bmigration
Cindustrialization
Durbanization
View Explanation & Discuss
Question 817
waec 2011

One good reason for the elimination of middle men is that they

Acause increase in price
Bhelp in price stability
Cgrade and blend goods
Dare too many
View Explanation & Discuss
Question 818
waec 2011

A firm's main aim is to

Asurvive the business
Bmaximize profits
Cincrease its market share
Dsatisfy the ambition of its managers
View Explanation & Discuss
Question 819
waec 2011

If there are no barriers to entering a market, it means that

Aanyone can become a buyer or a seller
Bunwanted goods can always enter the market
Cthe market becomes a dumping ground
Dthe goods are not inspected
View Explanation & Discuss
Question 820
waec 2011

In which of the following markets does a firm have power to make super normal profits both in the short run and long run?

AMonopoly
BDuopoly
COligopoly
DMonopsony
View Explanation & Discuss
Question Navigator
Current
MathsFaculty