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 2491:

  A  capital market differs from the money market in that in the former ________?

  Options:
  A) The percentage of interest charged is more
  B) Loan sought is long term
  C) Loan repayment is guaranteed
  D) Loan sought is short-term
  Show Answer
  The correct answer is B .
• Question 2492: By advertising, a monopolistic competitive firm tries to shift its Options:
  A) supply curve to the right
  B) demand curve to the right
  C) supply curve to the left
  D) demand curve to the left
  Show Answer
  The correct answer is B .
• Question 2493:

  The economic term used to refer to human wants, desires or needs is known as?

  Options:
  A) Ends
  B) Alternative means
  C) Scarce
  D) Means
  Show Answer
  The correct answer is A .
• Question 2494: One of the techniques of monetary control used by the Central Bank of Nigeria is? Options:
  A) selective credit control
  B) budget deficit
  C) foreign exchange control
  D) monitoring the general price level
  Show Answer
  The correct answer is C .
• Question 2495: Labour productivity is the ratio of? Options:
  A) labour to output
  B) man-hours to output
  C) output to man-hours
  D) average product to man-hours
  Show Answer
  The correct answer is C .
• Question 2496: The 2nd National Development plan in Nigeria was between Options:
  A) 1962 — 1968
  B) 1970 — 1974
  C) 1975 — 1980
  D) 1980 — 1985
  E) 1985 — 1990
  Show Answer
  The correct answer is B .
• Question 2497:

  

  Find the mean price of the distribution.

  Options:
  A) N54
  B) N51
  C) N56
  D) N59
  Show Answer
  The correct answer is B .
• Question 2498: A major feature of capitalism is Options:
  A) collective ownership of means of production
  B) competition
  C) equality or egalitarianism
  D) redistribution of income
  E) socialization and welfare
  Show Answer
  The correct answer is B .
• Question 2499:

  Which of the following is not a cause of unemployment_______

  Options:
  A) poor education
  B) lack of skills
  C) good government planning
  D) corruption
  Show Answer
  The correct answer is C .
• Question 2500:

  

  The percentage of working population in 2002 is

  Options:
  A) 50%
  B) 25%
  C) 8%
  D) 80%
  Show Answer
  The correct answer is D .