Economics Past Questions

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

40 questions
Question 1 of 20 40 total questions
Question 1
jamb 2020

Economic growth is different from economic development because economic growth

Adescribes expansion and changes
Bis measurable but not objective
Cdescribes expansion and not change
Dis not measurable but objective
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Question 2
jamb 2020

Utility is the satisfaction derived from?

Aproduction
Bdistribution
Cconsumption
Ddemand
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Question 3
jamb 2020

One of the major criticism of the 1962 -1968 National Development Plan was that?

Ait failed to incorporate lessons gained from earlier plans to enhance its efficiency
Bit came too quickly after the country's independence
Cplanned expenditure was based too heavily on expected earnings from crude oil
Dits execution was based largely on foregn-sourced financial resources
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Question 4
jamb 2020

A major effect of a long distribution chain is 

Ascarcity of commodities
Bhigh retail
Clow retails prices
Dlow producer earnings
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Question 5
jamb 2020

Crude petroleum is a good example of a 

Alasting asset
Bwasting asset
Csynthetic product
Dcostless resources
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Question 6
jamb 2020

One of the techniques of monetary control used by the central bank of Nigeria is

Aselective credit control
Bbudget deficit
Cforeign exchange control
Dmonitoring the general price level
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Question 7
jamb 2020

The Economic Commission for Africa was set up by the?

AUNO
BECOWAS
COAU
DIMF
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Question 8
jamb 2020

The use of legally permissible means to reduce tax liabilities is known as tax?

Aevasion
Bavoidance
Crelief
Dexemption
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Question 9
jamb 2020

The most important attribute of money is?

Ahomogeneity
Brelative scarcity
Cdivisibility
Dgeneral acceptance
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Question 10
jamb 2020

When a country's population is experiencing increasing returns, that country is said to be?

Aoverpopulated
Beconomically poor
Cover-producing goods and services
Dunder-populated
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Question 11
jamb 2020

Plywood industries are often located near the source of?

Afinance
Blabour
Cpower supply
Draw materials
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Question 12
jamb 2020

The most important goal of OPEC is to?

Apresent a united front for the purpose of raise prices of crude oil
Bbring unity among the petroleum exporting countries
Censure political stability among member states
Densure that rules on quota production are strictly followed
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Question 13
jamb 2020

In recent times, agriculture in Nigeria tends to lose its vital labour force as a result of?

Alack of an effective agricultural policy
Bemployment opportunities in the agricultural sector
Crural-urban drift
Dlow prices of agricultural products
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Question 14
jamb 2020

The factor of production that has the highest degree of mobility is? 

Aland
Blabour
Ccapital
Dentrepreneur
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Question 15
jamb 2020

The problem of conducting census include 

Ahigh rate of rural-urban migration
Bpoor geographical distribution of population
Chigh birth rate in the country
Dpoor town planning in urban areas
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Question 16
jamb 2020

A situation in which a commodity is sold abroad below its cost of production in the home country is known as?

Adumping
Bcounter trade
Ctrade liberalization
D
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Question 17
jamb 2020

Firms are often set up close to each other in order to take advantage of?

Asupply of skilled labour
Bagglomeration economies
Cinternal economies of scale
Dexternal economies of scale
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Question 18
jamb 2020

A company's expenditure on raw materials is regarded as?

Aexplicit cost
Bimplicit cost
Cprime cost
Daverage cost
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Question 19
jamb 2020

The type of business finances that entitles the holder to a fixed rate of dividend is?

Apreference stock
Bcommon stock
Cdebentures
Dbank loan
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Question 20
jamb 2020

Fiduciary issue is that part of?

Athe issue of notes backed entirely by gold
Ba country's currency that is not negotiable
Cthe issue of notes not backed by gold
Da country's currency officially issued
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