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
Question 1 of 20 4,545 total questions
Question 851
waec 2010

One of the functions of the Central Bank is

Aproduction of goods
Bissuing of currency
Cpresenting budgets
Dprinting of cheque books
View Explanation & Discuss
Question 852
waec 2010

The Central Bank controls money supply through all the following except

Alending to the publics
Bbank rate
Clegal reserve requirements
Dopen market operation
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Question 853
waec 2010

Which of the following is a legal tender?

Abank notes
Bbank overdrafts
Cbills of exchange
Dmoney order
View Explanation & Discuss
Question 854
waec 2010

In which of the following ways has inflation adversely affected your country’s economy?

Aincrease in money supply
Ba fall in real income
Cappreciation in the value of money
Dincreased employment
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Question 855
waec 2010

The best way of combating demand-pull inflation is to

Aincrease income taxes
Breduce income taxes
Cincrease import duties
Dincrease salaries and wages
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Question 856
waec 2010

Which of the following is not a reason for holding money?

AOstentation
BSpeculations
CTransactions
DPrecautionary
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Question 857
waec 2010

The total stock of money available for use in an economy is

Aa function of money
Ba characteristics of money
Cthe demand for money
Dthe supply of money
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Question 858
waec 2010

Which of the following over estimates the value of national income?

Aincomplete statistical data
BWrong timing of computation
Cchanges in price of goods within the year
Ddouble counting
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Question 859
waec 2010

Which of the following equation is appropriate for determining the Net Domestic Product (NDP)?

ANDP = GNP - depreciation
BNDP = GDP + Net Income from abroad
CNDP = GDP - depreciation
DNDP = GDP * Net Income from abroad
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Question 860
waec 2010

Which of the following is not a concept in National Income Accounting?

ADomestic National Products (DNP)
BGross National Product (GNP)
CGross Domestic Product (GDP)
DNet Domestic Product (NDP)
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Question 861
waec 2010

The following are all factors determining the location of industry except

Aminimum wage rate
Bavailability of labour
Cnearness of raw materials
Dproximity to the market
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Question 862
waec 2010

The following are advantages of large scale agriculture except

Ause of simple implements
Buse of sophisticated implements
Cincrease in employment
Dintegration of crops and animal farming
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Question 863
waec 2010

The role of government in promoting agricultural development includes the following except

Apaying the wages of farmers
Bestablishing and funding research
Cformulation of policies
Dprovision of rural infrastructures
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Question 864
waec 2010
Which of the following does not explain why a school principal earns more salary than a school messenger?
Alenght of training
Bdemand and supply
Ccost of training
Dthe messenger is a non-teaching staff
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Question 865
waec 2010

An efficient weapon used in resolving dispute between employers and employees is

Aco-operation
Bcollective bargaining
Cdisplay of placards
Dlegal action
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Question 866
waec 2010

A country whose population size is too small relative to its resource is

Aover populated
Boptimally populated
Cunder populated
Dproducing the optimum output
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Question 867
waec 2010

The wholesaler performs the following function except

Abreaking the bulk
Boffering credit facilities to the consumers
Cfinancing manufacturers
Dbuying in bulk from manufacturers
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Question 868
waec 2010

Which of the following is obtainable in a perfect market?

AP = MR > AR
BMP = MC > P
CMR < P
DP = MR = MC
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Question 869
waec 2010

One advantage of the Sole Proprietorship over other forms of business organization is that it can

Amake very high profits
Bemploy many workers
Ckeeps its affair private
Dproduce on a very large high scale
View Explanation & Discuss
Question 870
waec 2010

The public sector of an economy includes

Acooperative societies
Bnationalized industries
Cjoint stock companies
Dpressure groups
View Explanation & Discuss
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