Economics Past Questions For JAMB/WAEC/NECO Students V36; These Economics questions are for students who are sitting for the following examinations:
- JAMB
- Post-UTME / Post-JAMB
- WAEC
- NECO
- WAEC GCE
- NECO GCE
- NABTEB
- NABTEB GCE
Economics Past Questions V36 (JAMB/WAEC/NECO)
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#1. Scarcity in economics means?
#2. Economics is often described as a social science because?
#3. Which of the following is an example of aninvisibleitem on the balance of payments account
#4. A major factor affecting the value of money is the?
#5. The Nigerian bank for commerce and industry is?
#6. To control inflation, the monetary authorities of a country can
#7. Which of the following is used by the central bank to control the rate of interest
#8. What form of market is found in an imperfect competition where there are few buyers and many sellers
#9. A budget with a projected revenue in excess of its expenditure is said to be?
#10. In order to raise more revenue for a certain period, the government should impose higher taxes on goods whose demand
#11. If aggregate income is N500.00 and aggregate consumption is N400.00, this means that the average propensity to consume is?
#12. Collectivism refers to the management of state enterprises in a?
#13. Efficiency in production means?
#14. In economic life, the choice among alternatives depends on the?
#15. The law of diminishing marginal utility indicates that if a consumer increases his consumption of a commodity continously
#16. Which of the following rewards is associated with entrepreneurship
#17. Which of the following is likely to be inflationary
#18. The relationship between the tax rate and income which is relevant to progressive tax is shown by?
#19. The relationship between tax rate and income which is relevant to a proportional tax is depicted by?
#20. Fiduciary issue is that part of?
#21. The type of business finances that entitles the holder to a fixed rate of dividend is?
#22. A company’s expenditure on raw materials is regarded as?
#23. Firms are often set up close to each other in order to take advantage of?
#24. A situation in which a commodity is sold abroad below its cost of production in the home country is known as?
#25. The problem of conducting census include
#26. The factor of production that has the highest degree of mobility is?
#27. In recent times, agriculture in Nigeria tends to lose its vital labour force as a result of?
#28. The most important goal of OPEC is to?
#29. Plywood industries are often located near the source of?
#30. When a country’s population is experiencing increasing returns, that country is said to be?
#31. The most important attribute of money is?
#32. The use of legally permissible means to reduce tax liabilities is known as tax?
#33. The Economic Commission for Africa was set up by the?
#34. One of the techniques of monetary control used by the central bank of Nigeria is
#35. Crude petroleum is a good example of a
#36. A major effect of a long distribution chain is
#37. One of the major criticism of the 1962 -1968 National Development Plan was that?
#38. Utility is the satisfaction derived from?
#39. Economic growth is different from economic development because economic growth
#40. Which of the following is central to the definition of Economics?
#41. When the production possibility curve shifts outwards, the economy experiences
#42. Land as a factor of production is made useful through the
#43. In a free market economy, resources are allocated through the
#44. What does the diagram above depict
#45. In the figure above, YZ represents
#46. Goods are described as inferior if their demand
#47. A consumer is in equilibrium when
#48. The figure above shows the change in demand for Commodity X which is a normal good. Use itto answer the question that follows. Which of the following caused the change in demand from D 1 D 1 to D 2 D 2
#49. The curves D 0 D 0 and S 0 S 0 are the initial demand and supply curves respectively. What happens when government provides subsidies to producers?
#50. Goods that are abundant in supply usually have low
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