Economics Exam Past Questions and Answers | JAMB, WAEC and NECO

Economics is the study of how societies allocate limited resources to meet the unlimited needs and wants of individuals. It focuses on the production of goods and services, economic growth, and various complex issues that are important to society.

• Question 1151:

  The act of cultivating land and rearing of animal for man's use is

  Options:
  A) agriculture
  B) mono culture
  C) forestry
  D) aqua-science
  E) horticulture
  Show Answer
  The correct answer is A .
• Question 1152: The main problem of the Organization of Petroleum Exporting Countries is how to? Options:
  A) prevent members from violating their quota
  B) enhance the quality of petroleum product
  C) compete with the North Sea producers
  D) ensure viable crude reserves
  Show Answer
  The correct answer is A .
• Question 1153: The factor of production that has the highest degree of mobility is? Options:
  A) land
  B) labour
  C) capital
  D) enterpreneurship
  Show Answer
  The correct answer is B .
• Question 1154: A major determinant of floating exchange rate is Options:
  A) the highest denomination of the currency
  B) an Act of the parliament
  C) the system of government
  D) the forest of demand and supply
  Show Answer
  The correct answer is D .
• Question 1155:

  

  In the pie chart below, the percentage for children is equivalent to

  Options:
  A) 288^o
  B) 720^o
  C) 90^o
  D) 144^o
  Show Answer
  The correct answer is D .
• Question 1156: Fiscal policy is the government's plan to control aggregate demand by manipulating Options:
  A) the demand and supply of money
  B) revenue and expenditure
  C) tastes and preferences of consumers
  D) the structure of production and employment
  Show Answer
  The correct answer is B .
• Question 1157:

  

  The average product Y is

  Options:
  A) 15.5
  B) 14.6
  C) 12.0
  D) 8.0
  Show Answer
  The correct answer is A .
• Question 1158: If the standard deviation of a given data is 53, what is the variance? Options:
  A) 2082
  B) 2809
  C) 2808
  D) 2209
  Show Answer
  The correct answer is B .
• Question 1159:

  The Nigerian indigenization decree process involves

  Options:
  A) 5 phases
  B) 6 phases
  C) 4 phases
  D) 3 phases
  E) 2 phases
  Show Answer
  The correct answer is D .
• Question 1160: In a given set of data, if the variance is 25, what is the standard deviation? Options:
  A) 45
  B) 5
  C) 55
  D) 10
  E) 12
  Show Answer
  The correct answer is B .