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 2361: Under partnership, investors who have no desires to be actively involved in the day-to-day management of such organization, are called? Options:
  A) stockholders
  B) sleeping partners
  C) part-time investors
  D) ordinary partners
  Show Answer
  The correct answer is B .
• Question 2362: An increasein liquid reserve requirements by the central bank of Nigeria will result in Options:
  A) a reduction in commercial banks' excess reserves
  B) more commercial bank loan to members of the public
  C) an increase in commercial banks excess reserves
  D) no change in commercial banks excess reserves
  E) a reduction in central banks gold reserves
  Show Answer
  The correct answer is C .
• Question 2363: The best measure of dispersion to determine the tallest tree in a forest is Options:
  A) range
  B) variance
  C) standard deviation
  D) mean deviation
  Show Answer
  The correct answer is B .
• Question 2364:

  Efficiency of labour in a country is determined by the following except the____________

  Options:
  A) Social attitude to work
  B) Education and training
  C) Total population
  D) Working conditions of workers
  Show Answer
  The correct answer is C .
• Question 2365: Development outside a given firm which reduce the firm costs are called? Options:
  A) internal economies
  B) external economies
  C) external diseconomies
  D) optimum effects
  Show Answer
  The correct answer is B .
• Question 2366:

  The two major types of international trade are Bilateral trade and?

  Options:
  A) Internal trade
  B) Multilateral trade
  C) Dilateral trade
  D) Trilateral trade
  Show Answer
  The correct answer is B .
• Question 2367: To which of the following sectors do services belong? Options:
  A) Primary
  B) Secondary
  C) Tertiary
  D) Construction
  Show Answer
  The correct answer is C .
• Question 2368: External finance for a limited liability company is mainly sourced through? Options:
  A) the leasing equipment
  B) the issuing of shares
  C) trade credits
  D) banks loans
  Show Answer
  The correct answer is A .
• Question 2369: If the growth rate of available resources continuously outpaces that of the population, a country will eventually experience? Options:
  A) maximum population
  B) underpopulation
  C) overpopulation
  D) optimum population
  Show Answer
  The correct answer is B .
• Question 2370: Find the range in the following data 9, 15, 6, 20, 24, 18, 12, 8, 20, 10, 5. Options:
  A) 24
  B) 5
  C) 19
  D) 12
  Show Answer
  The correct answer is C .