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.

1,723 questions JAMB 2540 WAEC 1723 NECO 272 CUSTOM 10
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Past Questions

1,723 questions
Question 1 of 20 1,723 total questions
Question 81
waec 2022

A benefit that is present in all forms of economic integration is that

Afactors of production are free to move and be moved
Bcommon currency is in use
Ccommon agricultural policy is in place
Dthe size of the market is widened
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Question 82
waec 2022

Given that a country's index of export price is 180 and that of import is 200, the terms of trade is

A0.09
B2.00
C90.00
D380.00
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Question 83
waec 2022

Which of the following measures can lead to an increase in exports?

AIncrease in export duties
BIncrease in excise duties
CDepreciation of currency
DTotal ban on imports
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Question 84
waec 2022

An argument for the use of commercial policy rest on the need to

Amake imported goods affordable
Breduce domestic unemployment
Cencourage the importation of non-essential goods
Dmake a country enjoy absolute advantage in production of all goods
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Question 85
waec 2022

Foreign investment and long term securities in the balance of payment accounts are recorded as

Acurrent account transaction
Bcapital account transaction
Cbalance of trade account transaction
Dinvisible balance account transaction
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Question 86
waec 2022

Political instability hinders economic growth because it

Ascares many people from politics
Bprevent politicians from playing effective politics
Cdiscourage entrepreneurs generally
Dencourages urban-rural migration
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Question 87
waec 2022

Development planning focuses mainly on

Aallocation of resources by the entrepreneurs
Bmapping out strategies by the government
Cdeveloping some areas of the country by the government
Ddeciding on which types of homes to build
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Question 88
waec 2022

If demand is perfectly inelastic, a tax imposed

Ais borne only by the producer
Bis borne only by the consumer
Cwill have greater impact on the seller
Dwill have no impact on the buyer
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Question 89
waec 2022

Fiscal policy measures imply a change in

Aonly taxation to control aggregate demand
Bbank rate to infulence lending
Conly government expenditure to regulate an economy
Dgovernment revenue and expenditure to regulate an economy
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Question 90
waec 2022

Commercial banks are different from development banks in that the latter

Alend on short-term basis
Bpay interest on current accounts only
Care mostly joint-stock companies
Ddo not deal in foreign currencies
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Question 91
waec 2022

If the Central Bank increases its bank rate

Amany banks will shut down their operations
Bcustomers will borrow more from banks
Cthe supply of money may be reduced
Dinterest charges by banks will fall
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Question 92
waec 2022

If inflation is anticipated, people may

Asave more money
Bspend more money
Cgive out more loans
Dspend less money
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Question 93
waec 2022

An example of commodity money is

Acurrency note
Bmobile money
Ccheques
Dsilver
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Question 94
waec 2022

Increasing national income without effective control of population size in a country can lead to

Ahigher per capita income
Bincrease in poverty
Cincreased outflow of aid
Dunderutilization of resources
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Question 95
waec 2022

The use of mass advertising media enable a firm to enjoy

Amanagerial economies
Bfinancial economies
Cmarketing economies
Dwelfare economies
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Question 96
waec 2022

The main objective of marketing boards is to

Aaccumulate revenue for government
Beducate farmers on pricing of cash crops
Cstabilize the incomes of cash crop farmers
Dprovide warehousing facilities
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Question 97
waec 2022

The type of unemployment found among workers who leave their jobs in search of other jobs is termed

Aseasonal unemployment
Bstructural unemployment
Cfrictional unemployment
Dcyclical unemployment
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Question 98
waec 2022

Which of the following factors may not affect the efficiency of labour?

AEducation and training
BProvision of welfare service
CRace and colour of workforce
DQuality of other factor inputs
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Question 99
waec 2022

A positive effect of a rapid population increase is

Aan excessive budget deficit
Ba reduction in standard of living
Ca wider market for goods and services
Da higher dependency ratio
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Question 100
waec 2022

A major function of the retailer is to

Agrant credit to the wholesaler
Bbreak bulk and sell products in small units
Creduce cost of distribution
Dgenerate demand for products through advertisement
View Explanation & Discuss
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