Economics Past Questions

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

139 questions
Question 1 of 20 139 total questions
Question 1
waec 2018

at output level 5, the total variable cost is?

A$5.00
B$20,00
C$55.00
D$35.00
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Question 2
waec 2018

the total fixed cost is?

A$7.00
B$30.00
C$20.00
D$135.00
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Question 3
waec 2018

which of the following cannot be classified as a natural resource

Airon rod
Bwild life
Csolar energy
Dgold
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Question 4
waec 2018

one benefit a country can derive from the extraction of crude oil is increase in?

Apopulation
Bemployment
Cmoney
Ddemand for imports
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Question 5
waec 2018

An electrical engineer who is teaching physics in a secondary school is said to be 

Aunder-employed
Bunemployed
Cfully employed
Dtechnically unemployed
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Question 6
waec 2018

The International bank for reconstruction and development (IBRD) performs the following functions except?

Agranting long-term loans
Bassisting with technical expertise
Creducing tariff among members
Ddeveloping human resource
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Question 7
waec 2018

which of the following forms of economic integration is a member nation free to impose duty against

Acustom union
Bfree trade area
Ccommon market
Deconomic community
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Question 8
waec 2018

one advantage of international trade is that

Aprices of goods become stable
Bcountries become self-sufficient
Cgoods consumed are produced at a very high cost
Dit makes possible the consumption of variety of goods
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Question 9
waec 2018

Nations engage in international trade because of difference in?

Aabsolute cost
Bcomparative cost
Cfixed cost
Dvariable cost
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Question 10
waec 2018

which of the following is not a measure for reducing balance of payments deficits?

Aexport drive
Breducing tarriffs
Cadding to export goods
Dincreasing local production
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Question 11
waec 2018

which of the following measure can be adopted to stabilize the external value of the local currency?

Areduce the volume of export
Bincrease the demand for imports
Cincrease domestic money supply
Dreduce the demand for imports
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Question 12
waec 2018

the poorer the country, the larger the percentage of labour force engaged in?

AAgricultural
Bmining
Ctrading
Dmanufacturing
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Question 13
waec 2018

which of the following activities will not lead to economic growth?

Amassive importation of capital goods
Bintensive capital formation locally
Cuse of modern technology
Dmassive importation of consumer goods
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Question 14
waec 2018

in order to increase revenue, government should tax commodities for which demand is? 

Aperfectly price inelastic
Bprice inelastic
Cprice elastic
Dunitary elastic
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Question 15
waec 2018

income is redistributed when the rich are progressively taxed and?

Amore private schools are established
Bsubsidy is provided on petroleum products
Cmore public goods are provided
Dfarmers are given guaranteed prices
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Question 16
waec 2018

what happens when the central bank increases bank rate in an economy

Aborrowing is discouraged
Bcustomers increase their borrowing
Cbanks can increase their lending
Dmoney supply increases
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Question 17
waec 2018

the stock exchange is an example of the?

Alabour market
Bmoney market
Ccommodity market
Dcapital market
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Question 18
waec 2018

if a housewife has meat and tomatoes, she must find someone who wants meat and has tomatoes to give. this concept is described as?

Aopportunity cost
Bscale of preference
Ccomplementary demand
Ddouble of coincidence of wants
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Question 19
waec 2018

Holding money to take care of contigencies is?

Aa speculative motive
Ba transaction motive
Ca precautionary motive
Dan expansionary motive
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Question 20
waec 2018

demand pull inflation is likely to be caused by?

Aan increase in the cost of factors inputs
Bincrease in the income tax rate
Cincrease in bank lending rates
Dincreasingly large budget deficit
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