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Economics Past Questions For JAMB/WAEC/NECO Students V10

Economics Past Questions For JAMB/WAEC/NECO Students V10; These Economics questions are for students who are sitting for the following examinations:

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  • NECO
  • WAEC GCE
  • NECO GCE
  • NABTEB
  • NABTEB GCE

Economics Past Questions For JAMB/WAEC/NECO Students V10

 

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#1. Average fixed cost is

#2. The difference between personal income and personal disposal income is?

#3. Frictional unemployment?

#4. Economic development is defined as?

#5. The rate of exchange between a domestic and a foreign currency is defined as the

#6. Which of the following best explains the structural changes in the population of a country?

#7. Statistical information available in most West African countries suggests that?

#8. Transfer payment are

#9. Capital consumption allowance refers to?

#10. Ad valorem tax means?

#11. In order to raise more revenue for a certain period, government should impose higher taxes on goods whos demand is?

#12. A budget with a projected revenue in excess of its expenditure is said to be?

#13. The money which government spends yearly for the maintenance of its school is?

#14. Which of the following applies to a commodity sold abroad at a price lower than that in the producing country?

#15. A limited liability company is usually owned by?

#16. Money market differs from capital market in that it?

#17. The main reason for charging interest is to?

#18. In the keynesian model?

#19. If inflation is anticipated to continue?

#20. What form of market is found in an imperfect competition where there are few buyers and many sellers?

#21. To which of the following sectors do services belong?

#22. The liability of the sole trader is?

#23. Which of the following is NOT a type of business ownership?

#24. Which of the following is a disadvantage of regional concentration of industries?

#25. Given an original price of N3.50 per kilogram of rice and a change in price of 1.40, and given the quantity purchase at the old price as 10kg and a change in the quality as 5kg after the price change, the elasticity is equal to?

#26. For normal goods the income elasticity of demand is?

#27. If a good is an inferior good, then?

#28. An increase in supply will lower price unless?

#29. Which of the following is compatible with a firm in a purely competitive market?

#30. In the long run a firm will leave an industry if price?

#31. In the process of shopping, Mr. X whose wages per month does not exceed N200, finds that the price of a commodity he used to purchase with a fixed amount of N200 has risen to N230,. He therefore decides not to buy this commodity at all. Mr. X is thus affected by the?

#32. Price can be defined as?

#33. In the operation of market forces, the market is in equilibrium at the point where?

#34. A shift in the demand curve for commodity when the supply curve is vertical will lead to a change in the?

#35. Efficiency of labour is enhanced by?

#36. The residual of production which accrues to the owner of land after all other expenses have been met is called?

#37. In the history of Economic Thought the concept of Division of labour is usually associated with?

#38. The form of capital which is usually consumed or transformed into finished goods and services in the production process is called?

#39. The shut-down point for a firm in the short run is the output at which?

#40. The study of economic behavior of individual decision-making units (consumers, resources owners and business firms) in a free-enterprise economy is known as?

#41. Which of the following best describes the concept of opportunity cost?

#42. Market is defined as?

#43. The additional revenue obtained by using one more unit of a factor is called its?

#44. Labour productivity is defined as?

#45. A production possibility curve shows?

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