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 1711:

  Transcationary motive implies, holding money

  Options:
  A) for future investment
  B) for day to day expenses
  C) for unforeseen contingencies
  D) to settle previous debts
  E) to buy share in the stock exchange market
  Show Answer
  The correct answer is B .
• Question 1712: Merchants banks perform all the following functions EXCEPT? Options:
  A) raising of capital for industry
  B) provision of current account facilities
  C) management of investment portfolios
  D) provision of credit for overseas trade
  Show Answer
  The correct answer is B .
• Question 1713: A rightward shift of the budget line is caused by a Options:
  A) fall in consumer income
  B) change in consumer taste
  C) fall in the commodity relative price
  D) rise in the commodity relative price
  Show Answer
  The correct answer is D .
• Question 1714:

  Use the data below to answer this questions

  54, 36, 62, 79, 83, 36, 62, 42, 62, and 42.Calculate the mean?

  Options:
  A) 45.5
  B) 55.6
  C) 55.8
  D) 65.8
  Show Answer
  The correct answer is C .
• Question 1715: To enhance the competitiveness of domestic agricultural products, there is need to Options:
  A) ban the importation of a agricultural products
  B) increase the exportation of agricultural products
  C) improve the quality of domestic agricultural products
  D) increase the output of domestic agricultural products
  Show Answer
  The correct answer is C .
• Question 1716: One of the features of a free market economy is that? Options:
  A) resources are directed by the price mechanism
  B) workers do not earn equal wages
  C) the profit motive is serverly constrained
  D) descisions on the economy are taken by bureaucratic structures
  Show Answer
  The correct answer is A .
• Question 1717: A characteristic of a debenture is that? Options:
  A) its yeild is based on profits
  B) its yeild is a fixed rate of interest
  C) it has no redemption date
  D) there is a voting right when interest is paid
  Show Answer
  The correct answer is B .
• Question 1718: Budget deficit is the amount by which? Options:
  A) total expenditure exceeds revenue
  B) recurrent expenditure exceeds revenue
  C) capital expenditure exceeds revenue
  D) recurrent expenditure exceeds capital expenditure
  Show Answer
  The correct answer is A .
• Question 1719: A demand curve slopes downwards because of ? Options:
  A) an increase inthe money income of the consumer
  B) a decrease inthe money income of the consumer
  C) the substitution effect and the rise in real income of the consumer
  D) the rise in demand for the complementary goods
  E) the increase in the demand for factors and production
  Show Answer
  The correct answer is C .
• Question 1720: An aging population refers to the preponderance of? Options:
  A) middle-aged people in the population
  B) young people in the population
  C) women in the the population
  D) old men in the population
  E) old people in the population
  Show Answer
  The correct answer is E .