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 311: The monetization policy is an offshoot of Options:
  A) NEEDS
  B) SAP
  C) PAYE
  D) MDGs
  Show Answer
  The correct answer is A .
• Question 312: Under the Nigerian Structural Adjustment Programme, the marketing of agricultural commodities in Nigeria has been placed under? Options:
  A) the marketing boards
  B) the commodity boards
  C) the river-basin authorities
  D) private investors and individuals
  Show Answer
  The correct answer is D .
• Question 313: the type of business finance that entitle the holder to a fixed rate of dividend is? Options:
  A) perferred stock
  B) common stock
  C) debenture stock
  D) bank loan
  Show Answer
  The correct answer is A .
• Question 314: The country will be over populated when Options:
  A) the rate of birth is high
  B) the death rate is low
  C) the growth rate is high
  D) population is increasing more than resources in the country
  E) unemployement is high in the country
  Show Answer
  The correct answer is D .
• Question 315: Prohibiting the sale of lace materials in Nigeria would probably lead to? Options:
  A) Increase supply of lace material in Nigeria
  B) Production of better quality lace abroad
  C) Lower price of lace material in Nigeria
  D) Higher price of lace material in Nigeria
  E) Increase income to all dealers of lace materials in Nigeria
  Show Answer
  The correct answer is D .
• Question 316: Given that at the beginning of 1973, Nigeria with a birth rate of 3% per annum had a population of 75million. This implied that in that year Options:
  A) The population increased by 2.25million
  B) There were 2.25 million live births
  C) The government have to make provisions for 2.25 million children
  D) 2.25 million - children were born
  Show Answer
  The correct answer is A .
• Question 317: Balance of trade is the difference between? Options:
  A) exports and imports of goods and services
  B) capital inflows and capital outflows
  C) visible and invisible balances
  D) exports and imports of goods
  Show Answer
  The correct answer is D .
• Question 318: Which of the following is likely to be inflationary? Options:
  A) Tax increase
  B) increase in unemployment
  C) Budget surplus
  D) Wages increase
  Show Answer
  The correct answer is D .
• Question 319: A change in the pump price of petrol in Nigeria has a direct effect on the Options:
  A) prices of consumer goods
  B) prices of essential goods
  C) cost of raw materials
  D) cost of transportation
  Show Answer
  The correct answer is B .
• Question 320:

  Macroeconomics focuses on the following units in an aggregative manner

  Options:
  A) household, firms, government, corporate sector and external sector
  B) individual consumers, individual firms, government and external sector
  C) government, household firms, individual consumers and external sector
  D) individual consumers, household firms and manufacturing sector
  Show Answer
  The correct answer is A .