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Economics Past Questions For JAMB/WAEC/NECO Students V34

Economics Past Questions For JAMB/WAEC/NECO Students V34; These Economics questions are for students who are sitting for the following examinations:

  • JAMB
  • Post-UTME / Post-JAMB
  • WAEC
  • NECO

Economics Past Questions V34 (JAMB/WAEC/NECO)


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#1. The privatization of public enterprises will lead to efficient management of resources in the economy. This statement can best be described as_____________

#2. The type of business finance that entitles the holder to a fixed rate of dividend is______________

#3. In the long run, all production factors are____________

#4. Commercial bank reserves at the Central Bank____________

#5. If the standard deviation of a given data is 8.2, find its variance_______________

#6. The ultimate objectives of economics is to_________?

#7. The savings deposit in a commercial bank is called____________?

#8. A major determinant of the demand for a luxury good is____________?

#9. When a variable is associated with time period, it is_____________

#10. The factor of production that has the highest degree of mobility is__________?

#11. The minimum number of share holders for joint stock companies is_______________

#12. If a demand curve that intersects a perfectly inelastic supply curve shift is rightward, then____________

#13. If a demand curve that intersects a perfectly inelastic supply curve shift is rightward, then____________

#14. The basic economic problems of society include___________

#15. In an open economy, the GNP is measured as_____________?

#16. In a developing economy, productivity is measured by the____________

#17. The need to construct a scale of preference is necessitated by____________

#18. The privatization exercise in Nigeria is a move towards a____________

#19. The mean is the best measure of central tendency because it__________

#20. No of Men 1 2 3 4 5 6 7 8 Total Product(unit) 200 440 540 600 640 660 660 640 If the price per unit is N2, what is the average revenue when 6 men are employed?

#21. When elasticity is zero, the demand curve is_____________

#22. Which of the following is not a direct tax?

#23. A limited liability company is owned by________________

#24. If the price elasticity of demand for a good is 0.43 an increase in the price of the good will result in____________

#25. The money paid per hour for work done is_________

#26. By utility we mean____________

#27. Concentrating industries in one place is advantageous because there are gains in terms of_____________

#28. The effects on the demand for product A caused by a change in the price of product B is Called____________

#29. An upward movement along the same supply curve result in_____________

#30. The coefficient of the price elasticity of supply is always_____________

#31. In the history of economics the concept of division of labour is usually associated With______________-

#32. Given that Y = C + 1, where C = 50 + 0.75 and 1 = N45m, what is the equilibrium level of income?

#33. From the diagram shown, the optional point of production is_____________?

#34. An ad valorem tax is imposed on_____?

#35. The labour force of a country is determined by the___________

#36. The transfer of public share holding in corporations to private enterprise is___________?

#37. An economy in which both the public and private sectors contribute to economic growth is a__________?

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

#39. The reduction in the value of a country’s currency in relation to the value of the currencies of other nation is known as____________

#40. The expression of cost in terms of alternative forgone is referred to as ____?

#41. The full meaning of NAPEP is?

#42. Taxes and government expenditures are instruments of____________

#43. As a factor of production, the reward for land is?

#44. The diagram below represents a production function. At which of the points does diminishing returns set in __________

#45. The two major types of international trade are Bilateral trade and?

#46. In a capitalist economy, factors of production are owned and controlled by the _____?

#47. Efficiency of labour in a country is determined by the following except the____________


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