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 1631: A characteristic of a debenture is that? Options:
  A) its yeild is based on profits
  B) its yeild is a fixed rate of interest
  C) it has no redemption date
  D) there is a voting right when interest is paid
  Show Answer
  The correct answer is B .
• Question 1632: Macroeconomics is a study of economics science from the point of view of? Options:
  A) resource markets or production units
  B) individual producers or consumers
  C) aggregate or general economy
  D) companies or individual firms
  Show Answer
  The correct answer is C .
• Question 1633: A perfect competitor will continue to expand output up to the point where Options:
  A) TC > TR
  B) MR = AR
  C) MC < MR
  D) MC > MR
  Show Answer
  The correct answer is C .
• Question 1634: The law of demand can be expressed as Options:
  A) P = f(Q _d)
  B) Q _d = f($\frac{1}{p}$
  C) P = f($\frac{1}{Q_d}$
  D) Qd = f(P)
  Show Answer
  The correct answer is B .
• Question 1635: The money which government spends yearly for the maintenance of its school is? Options:
  A) used only for wages and salaries
  B) part of the government's capital expenditure
  C) part of the government's recurrent expenditure
  D) the government's budget for its school
  Show Answer
  The correct answer is C .
• Question 1636:

  The lands that belong to the community is referred to as__________

  Options:
  A) sacred land
  B) individual land
  C) communal land
  D) rent land
  Show Answer
  The correct answer is C .
• Question 1637: A major advantage of industrialization is that it Options:
  A) leads to self-reliance
  B) curbs inflation
  C) leads to growth and development
  D) improves the terms of trade
  Show Answer
  The correct answer is C .
• Question 1638: Which of the following is likely to hinder labour mobility in Nigeria? Options:
  A) Higher wages elsewhere
  B) Cultural similarities
  C) Good accommodation elsewhere
  D) Ignorance of job opportunities elsewhere
  Show Answer
  The correct answer is B .
• Question 1639: which is not responsible for the decline infood production in West Africa? Options:
  A) Neglect of agriculture by many people
  B) drift of young people rural to urban areas
  C) Influence of weather and climate
  D) Many of the countries do not balance of payments problems
  E) Lack of good prices for agricultural products on the farm
  Show Answer
  The correct answer is D .
• Question 1640: 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 .