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 2391:

  

  The percentage contribution of manufacturing sector is

  Options:
  A) 67.5
  B) 40.0
  C) 32.4
  D) 25.0
  Show Answer
  The correct answer is D .
• Question 2392: A constraint on the expansion of a firm is the Options:
  A) Rate of advertisement
  B) Level of producers income
  C) Tastes of the consumers
  D) Size of the market
  Show Answer
  The correct answer is D .
• Question 2393: Fiduciary issue is that part of? Options:
  A) the issue of notes backed entirely by gold
  B) a country's currency which is not negotiable
  C) the issue of notes not backed by gold
  D) a country's currency officially issued
  Show Answer
  The correct answer is C .
• Question 2394: An economy in which both the public and the private sectors contribute substantially to the growth of output is? Options:
  A) a socialist economy
  B) a capitalist economy
  C) a mixed economy
  D) an industrial economy
  E) a peasant economy
  Show Answer
  The correct answer is C .
• Question 2395:

  The type of business finances that entitles the holder to a fixed rate of dividend is?

  Options:
  A) preference stock
  B) common stock
  C) debentures
  D) bank loan
  Show Answer
  The correct answer is C .
• Question 2396: Given the present state of the Nigeria economy,which of the following measures will promote more rapid economic development? Options:
  A) Complete dependence on oil exports
  B) concentration on agricultural exports
  C) Diversification of the economy
  D) Building of more schools and universities
  E) Introductionn of nuclear energy in Nigeria
  Show Answer
  The correct answer is C .
• Question 2397:

  In income determination theory, acceleration principles shows that

  Options:
  A) income is the cause, while investment is the effect investment
  B) income and investment are both causes
  C) income and investment are both effects
  D) incomes is of on effect on investment
  E) investment is the causes, while income is the effects
  Show Answer
  The correct answer is A .
• Question 2398:

  In the history of economics the concept of division of labour is usually associated With______________-

  Options:
  A) Karl Marx
  B) Adam Smith
  C) David Ricardo
  D) J.M Keynes
  Show Answer
  The correct answer is B .
• Question 2399: All the following are the objectives of economic planning EXCEPT to Options:
  A) reduce the rate of inflation and achieve stable value for the naira
  B) encourage inflow of public and private capital
  C) evolve a sequential political transition and enthronement of popular government
  D) reduce economic dependence on foreign nations
  E) achieve full employment
  Show Answer
  The correct answer is C .
• Question 2400:

  Institutions serving as links between surplus and deficit units can be identified as

  Options:
  A) tax officers
  B) pension offices
  C) financial intermediates
  D) acceptance houses
  Show Answer
  The correct answer is C .