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 81:

  The type of business finance that entitles the holder to a fixed rate of dividend is______________--

  Options:
  A) bank load
  B) debenture
  C) preferred stock
  D) semi-fixed
  Show Answer
  The correct answer is C .
• Question 82: The main handicap of sole proprietorship is? Options:
  A) limited liability
  B) lack of technical know-how
  C) low profit margin
  D) inadequate capital
  Show Answer
  The correct answer is D .
• Question 83: Idle cash balances are held for Options:
  A) planned purchases
  B) the purchase of bonds
  C) the purchase of shares
  D) unplanned purchases
  Show Answer
  The correct answer is D .
• Question 84:

  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 85: Above full employment level, an expansionary monetary policy will lead to a Options:
  A) decrease in aggregate supply
  B) fall in the inflation rate
  C) rise in the inflation rate
  D) fall in aggregate demand
  Show Answer
  The correct answer is C .
• Question 86: When elasticity is zero, demand curve is Options:
  A) perfectly elastic
  B) perfectly inelastic
  C) down-ward sloping
  D) upward sloping
  Show Answer
  The correct answer is B .
• Question 87: The aim of indigenization policy was to Options:
  A) build more industries in the economy
  B) increase the drain in foreign exchange
  C) increase foreign domination of the economy
  D) increase the participation of Nigeria’s commerce and industry
  E) send all the foreigners away from Nigeria
  Show Answer
  The correct answer is B .
• Question 88: The pre-dominance of non-working housewives and maids in West Africa Options:
  A) will understate the national income of the countries
  B) will overstate the national income of the countries
  C) will lead to constant per capita income over the years
  D) will lead to balance of payment deficits
  E) will cause unfavourable terms of trade
  Show Answer
  The correct answer is A .
• Question 89: The price mechanism is more effective in achieving efficient performance of the economy than the planning mechanism because of the? Options:
  A) role of supply and demand
  B) role of material incentive
  C) existence of buyers and sellers
  D) role of money
  Show Answer
  The correct answer is A .
• Question 90:

  The Nigerian indigenization decree process involves

  Options:
  A) 5 phases
  B) 6 phases
  C) 4 phases
  D) 3 phases
  E) 2 phases
  Show Answer
  The correct answer is D .