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Economics Past Questions For JAMB/WAEC/NECO Students V5

Economics Past Questions For JAMB/WAEC/NECO Students V5; 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 V5

 

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#1. If income rises from N200.00 to N250.00 and the amount spent on good X fails from N30.00 to N28.00, then good X is

#2. What is the growth rate of employment?

#3. When the import of a commodity is limited to a definite quantity by using a trade control method, this is known as

#4. Balance of payments of a country explains the overall position of?

#5. All of the following EXCEPT ONE are normal functions of the marketing board in Nigeria

#6. Which of the following countries is NOT a member of the economic Community of West African States?

#7. In Nigeria, a balance of payments deficit can be solved by all of the following EXECPT?

#8. Full equilibrium under perfect competition requires that?

#9. Oligopoly means

#10. Price discrimination can be described profitably by a monopolist when the elasticity of demand for his product is

#11. Demand for money for speculative purposes means?

#12. If the Central Bank intends to increase the money supply through open market operations then it will

#13. If income rises from N200.00 to N250.00 and the amount spent on good X falls from N30.00 to N28.00, then good X is?

#14. which is not responsible for the decline infood production in West Africa?

#15. The most dominant economic activity which employs the largest number of people in West Africa is?

#16. Public enterprises are supported on the grounds that they are undertaken for

#17. One of the ways by which Government derives revenue from industrial enterprises in West Africa is?

#18. What is the most important factor influencing the location of the iron and steel industry at Ajaokuta?

#19. A good measure of the standard of living usually used for international comparison is

#20. A commodity can be sold for two or more different prices if it is?

#21. The PAYE (Pay As You Earn) in Nigeria is an example of?

#22. The chief sources of Federal Government revenue in Nigeria are?

#23. Function of commercial banks do NOT include?

#24. Monetary policy does NOT involve

#25. In an economy, if the proportion of people who are below 18 years is 40% and those above 60 years is 30% what would this imply? the

#26. Which is considered the most effective tool by which the Central Bank of Nigeria can control the activities of commercial banks?

#27. The sloping downward of the demand curve implies that?

#28. if AC = Average Cost of production , TC = Total Cost of production VC = Variable Cost of production FC = Fixed Cost of production Q = Quantity of goods producedThen,

#29. Population growth can be calculated as ?

#30. Retailers are greater in numbers than wholesalers because?

#31. The purpose of import duties does NOT include the?

#32. The difference between visible exports and invisible exports of a country, in money terms, is known as the?

#33. The main economic goal of ECOWAS is the attainment of ?

#34. Taxes which are levied on a person’s expenditures are known as?

#35. some of major problems hindering economic development in west Africa are in the areas of electricity supply, communication, educations and health. These items are known in Economics as?

#36. The equilibrium market price is determined at a point where?

#37. Most firms are financed by share capital. The shares which do not carry any fixed rate of dividend are known as ?

#38. A firm whose cost of production decrease as it continues to increase its output is said to be enjoying?

#39. Who controls a limited liability company ?

#40. The National Electric Power Authority (NEPA) is a?

#41. Which one of the following functions of banks in Nigeria is reserved to the Central Bank?

#42. To calculate the annual natural growth rate of a country’s population, one has to know the country’s annual birth rate and

#43. We can classify the people of Nigeria into three broad age group :Group one, 0-15years ; Group Two,16-64years; Group Three, 65years and above. Group Two is the most important economically because

#44. In the study of Economics, land, labour, capital and entrepreneur are referred to as factors of production. These factors produce commodities only if they are?

#45. The supply of and demand for goods and services are influenced by the?

#46. The control price for a carton of beer in Nigeria is N7.20. But a carton of beer is sold in parts of the country for as much N15.00 The cause of this exorbitant price is that?

#47. Economics is a science which deals basically with

#48. Economist speak about ‘opportunity cost’ when a person

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