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.

50 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

50 questions
Question 1 of 20 50 total questions
Question 1
jamb 2008

Individual markets differ from each other according to

AThe degree of competition
BThe volume of trade
CThe number of buyers
DIt's composition
View Explanation & Discuss
Question 2
jamb 2008

One of the factors affecting the supply of manufactured goods is

AWeather
BTechnology
CConsumer tastes
DAvailability of inputs
View Explanation & Discuss
Question 3
jamb 2008

Use the information below to answer this question.
Given that Q d = 20 - 4P and Qs = 6P + 12

If price is increased to N3, how much is the excess supply?

A30
B22
C12
D8
View Explanation & Discuss
Question 4
jamb 2008

Use the information below to answer this question.
Given that Q d = 20 - 4P and Q = 6P + 12

Determine the equilibrium quantity

A14.2
B16.8
C20.8
D30.2
View Explanation & Discuss
Question 5
jamb 2008

Use the data below to answer this questions
54, 36, 62, 79, 83, 36, 62, 42, 62, and 42.

What is the modal score?

A36
B42
C54
D62
View Explanation & Discuss
Question 6
jamb 2008

Use the data below to answer this questions
54, 36, 62, 79, 83, 36, 62, 42, 62, and 42.

Calculate the mean?

A45.5
B55.6
C55.8
D65.8
View Explanation & Discuss
Question 7
jamb 2008
From the shaded area of the diagram above, an appropriate population policy will be to
Aencourage early marriages
Bdiscourage immigration
Cdiscourage polygamy
Dencourage the use of contraceptives
View Explanation & Discuss
Question 8
jamb 2008
From the graph above , point M shows that MC
Acuts AC at its minimum point
Band AC rises simultaneously
Ccuts AC at its maximum point
Dis falling
View Explanation & Discuss
Question 9
jamb 2008

In the diagram above, there is an excess

Ademand for 30 units
Bsupply of 40 units
Cdemand for 20 units
Dsupply of 20 units
View Explanation & Discuss
Question 10
jamb 2008

A classroom teacher is promoted to the rank of a principal. This is an example of

Avertical mobility
Blateral mobility
Csocial mobility
Dhorizontal mobility
View Explanation & Discuss
Question 11
jamb 2008

If the active population is 50 million and unemployed is 5 million what is the unemployment rate?

A10%
B45%
C55%
D90%
View Explanation & Discuss
Question 12
jamb 2008

A high rent on land will affect the cost of producing maize

Aat the early stage of production
Bnegatively
Cat the later stage of population
Dpositively
View Explanation & Discuss
Question 13
jamb 2008
A major trading problem facing ECOWAS is
Athe absence of common currency
Bpolitical instability
Chigh poverty level
Dnon implementation of decisions
View Explanation & Discuss
Question 14
jamb 2008

The OPEC marketing policy of fixing minimum price allows members to

Asell above minimum price
Bsell below minimum price
Cdetermine the price and quantity to sell
Dnegotiate price with customers
View Explanation & Discuss
Question 15
jamb 2008

The population of a country will decrease if

Athe death rate exceeds the birth rate
Bimmigration is equal to emigration
Cthe birth rate exceeds the death rate
Dthere is rapid economic growth
View Explanation & Discuss
Question 16
jamb 2008

The active population of a country determines the size of its

Aeconomic resources
Bnational income
Clabour force
Dgross domestic product
View Explanation & Discuss
Question 17
jamb 2008

Joint-stock companies can raise funds from

Athe money market
Bthe capital market
Cvarious sources
Dgovernment
View Explanation & Discuss
Question 18
jamb 2008

The economic policy of privatization came up as a result of the poor performance of

Acommercial banks
Bsmall-scale businesses
Cpublic enterprises
Dprivate enterprises
View Explanation & Discuss
Question 19
jamb 2008

The activities in the oil and gas industry are classified into

Aexploration and transportation
Bupstream and downstream
Cdiscovery and extraction
Donshore and offshore
View Explanation & Discuss
Question 20
jamb 2008

The exports-promotion strategy is aimed at producing

Aconsumer goods originally imported
Bmachinery for industries
Cmore goods for exports
Dmore goods domestic consumption
View Explanation & Discuss
Question Navigator
Current
MathsFaculty