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 1441: The age distribution of a country's population determines the? Options:
  A) ratio of the dependent to the working group
  B) total age of all working class adults
  C) male-female ratio
  D) percentage of married women
  Show Answer
  The correct answer is A .
• Question 1442: Which of these would NOT increase population of a country Options:
  A) Increase in death rate
  B) Decrease in birth rate
  C) Emigration
  D) Migration
  E) Better medical facilities
  Show Answer
  The correct answer is A .
• Question 1443: If the active population is 50 million and unemployed is 5 million what is the unemployment rate? Options:
  A) 10%
  B) 45%
  C) 55%
  D) 90%
  Show Answer
  The correct answer is A .
• Question 1444:

  Poverty simply refers to the low level of________

  Options:
  A) planning
  B) per capita income
  C) rich people
  D) labour face
  Show Answer
  The correct answer is B .
• Question 1445: One of the major factors militating against industrialization in Nigeria is the? Options:
  A) inadequacy of infrastructural facilities
  B) absence of government participation
  C) frequent breakdown of equipment
  D) failure to get foreign partners and supporters
  Show Answer
  The correct answer is A .
• Question 1446: The price mechanism Options:
  A) regulates supply and demand
  B) rations the consumers
  C) rewards the producers
  D) allocates scarce resources
  E) does all of the above
  Show Answer
  The correct answer is A .
• Question 1447: High dependency ratio is influenced by Options:
  A) high infant mortality rate
  B) the level of income
  C) high birth rate
  D) inadequate medical care for children
  Show Answer
  The correct answer is C .
• Question 1448: NEPA as a public corporation is? Options:
  A) a power generating industry in Nigeria
  B) organized in a perfect competitive market
  C) a duopoly
  D) a monopolistically competitive industry
  E) a monopoly
  Show Answer
  The correct answer is E .
• Question 1449: Which of the following producer is closest to being a monopolist? Options:
  A) A baker
  B) A wheat farmer
  C) A large chain store
  D) An automobile plant
  Show Answer
  The correct answer is D .
• Question 1450: The joint ventures operating in the Nigerian oil industry are between? Options:
  A) the NNPC and independent marketers
  B) the NNPC and multinational marketers
  C) the NNPC and producer marketers
  D) multinational corperations and independent marketers
  Show Answer
  The correct answer is C .