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 911: One major problem encountered by ECOWAS is_______? Options:
  A) Conflict of interest among members
  B) Increasing population
  C) Weakness in the trade relationship
  D) Language barrier
  Show Answer
  The correct answer is A .
• Question 912: The rate of interest change on loans depends largely on Options:
  A) the prevailing exchange rate
  B) marginal efficiency of capital
  C) the risk associated with the loan
  D) the prevailing tax rate
  Show Answer
  The correct answer is C .
• Question 913: Infant industries denote industries which? Options:
  A) are introducing new products
  B) are too young to compete in the world market
  C) produce baby food and mother care products
  D) are allowed time enough to mature for recognition
  Show Answer
  The correct answer is B .
• Question 914: An example of a regressive tax is? Options:
  A) the personal income tax
  B) the graduated corporation income tax
  C) a general sales tax
  D) the inheritance tax
  E) the excise tax
  Show Answer
  The correct answer is C .
• Question 915:

  Most of the National debts is "dead weight" in the sense that is____

  Options:
  A) bound to increase from year to year
  B) accumulated as the result of past capital investment
  C) the responsibility of the treasury
  D) not covered by any real asset
  Show Answer
  The correct answer is D .
• Question 916: All of the following EXCEPT ONE are normal functions of the marketing board in Nigeria Options:
  A) Price stabilization
  B) Efficient marketing of agriculture crops
  C) Provision of funds for building access roads
  D) Development of the agricultural industry
  E) Establishment of agro-allied industries
  Show Answer
  The correct answer is C .
• Question 917:

  Which of the following is the resultant effect of a fall in the profit margin of producers in an economy?

  Options:
  A) Unemployment will fall
  B) Unemployment will remain constant
  C) Unemployment will increase
  D) Unemployment will fluctuate
  Show Answer
  The correct answer is C .
• Question 918: The working population refers to? Options:
  A) a population where the average age is falling
  B) the population within the '0 -14'age bracket
  C) the economically active segment of the population
  D) the dependent population
  Show Answer
  The correct answer is C .
• Question 919: A characteristic of the linear production function is that Options:
  A) the percentage change in inputs change exceeds output
  B) output and all inputs change by the same percentage
  C) the percentage change in output is greater than one
  D) the percentage change in output is less than one
  Show Answer
  The correct answer is B .
• Question 920: Which of the following is NOT a determinant of the size economically active population? Options:
  A) Age structure
  B) Occupation of workers
  C) Proportion of men to women
  D) Average length of the working day
  E) Efficiency of the labour force
  Show Answer
  The correct answer is B .