Economics Past Questions | JAMB, WAEC, NECO and Post UTME Past Questions
Opeyemi Ayinde January 24, 2023
Economics is the social science that studies the production, distribution, and consumption of goods and services. Economics focuses on the behaviour and interactions of economic agents and how economies work.
Study the following Economics past questions and answers for JAMB, WAEC, NECO and Post UTME. Prepare yourself with past questions and answers for your upcoming examinations.
Economics Past Questions | JAMB, WAEC, NECO and Post UTME Past Questions
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Question 1 of 27
1. Question
The law of diminishing marginal utility indicates that if a consumer increases his consumption of a commodity continously
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Question 2 of 27
2. Question
Which of the following rewards is associated with entrepreneurship
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Question 3 of 27
3. Question
Which of the following is likely to be inflationary
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Question 4 of 27
4. Question
The relationship between the tax rate and income relevant to progressive tax is shown by the?
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Question 5 of 27
5. Question
The relationship between tax rate and income relevant to a proportional tax is depicted by the?
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Question 6 of 27
6. Question
Fiduciary issue is that part of?
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Question 7 of 27
7. Question
The Nigerian bank for commerce and industry is?
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Question 8 of 27
8. Question
The type of business finances that entitles the holder to a fixed rate of dividend is?
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Question 9 of 27
9. Question
To control inflation, the monetary authorities of a country can
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Question 10 of 27
10. Question
A company’s expenditure on raw materials is regarded as?
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Question 11 of 27
11. Question
Which of the following is used by the central bank to control the rate of interest
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Question 12 of 27
12. Question
Firms are often set up close to each other in order to take advantage of?
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Question 13 of 27
13. Question
What form of market is found in an imperfect competition where there are few buyers and many sellers?
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Question 14 of 27
14. Question
A situation in which a commodity is sold abroad below its cost of production in the home country is known as?
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Question 15 of 27
15. Question
A budget with a projected revenue in excess of its expenditure is said to be?
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Question 16 of 27
16. Question
The problem of conducting census include
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Question 17 of 27
17. Question
In order to raise more revenue for a certain period, the government should impose higher taxes on goods whose demand
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Question 18 of 27
18. Question
The factor of production that has the highest degree of mobility is?
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Question 19 of 27
19. Question
If aggregate income is N500.00 and aggregate consumption is N400.00, this means that the average propensity to consume is?
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Question 20 of 27
20. Question
In recent times, agriculture in Nigeria tends to lose its vital labour force as a result of?
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Question 21 of 27
21. Question
Collectivism refers to the management of state enterprises in a?
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Question 22 of 27
22. Question
Efficiency in production means?
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Question 23 of 27
23. Question
In economic life, the choice among alternatives depends on the?
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Question 24 of 27
24. Question
Scarcity in economics means?
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Question 25 of 27
25. Question
Which of the following is an example of an invisible item on the balance of payments account?
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Question 26 of 27
26. Question
A major factor affecting the value of money is the?
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Question 27 of 27
27. Question
Economics is often described as a social science because?
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