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Economics Past Questions For JAMB/WAEC/NECO Students V35

Economics Past Questions For JAMB/WAEC/NECO Students V35; These Economics questions are for students who are sitting for the following examinations:

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

Economics Past Questions V35 (JAMB/WAEC/NECO)


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#1. A demand which gives rise to the reverse of the law of demand is__________

#2. If two commodities are unrelated, a change in the price of one will____________

#3. In a perfect competition, the market price is determined by_______

#4. In the short-run, the monopoly makes_______

#5. The demand curve facing the monopolist in the foreign market is__________

#6. Supply is________

#7. A rise in the supply of a commodity cause__________

#8. The method obtained by adding all the reward of factors of production in national income is________

#9. An economy in which the whole income is not consumed is referred to as______

#10. The arithmetic mean of 5, 8, 10, 15, 24 and 28 is_______

#11. A method of analysis that draws conclusions from data rather than general Principles already known is________

#12. The money market equilibrium is defined as_________

#13. An economic condition in which much reduced economic activity co-exists with inflation is referred to as__________

#14. An Instrument used by the central bank to fix commercial and merchant banks total credit to domestic economy is________

#15. Restrictive monetary policy is designed to curtail aggregate demand and to overcome________

#16. The average curve and the marginal curve are U-shaped in the short-run and flatter in the long-run due to________

#17. The most important cost curve for the firm is_________

#18. In the case of highly or close complementary goods, the indifference curve is_______

#19. One of these is not an assumption of the cardinalist theory of utility?

#20. The shape of the production possibility frontier is determined by the_________

#21. As indifference curve shows equal level of satisfaction at all points, An isoquant shows equal level of_________

#22. Which of the following is not a cause of unemployment_______

#23. The demand for labour is a________

#24. The use of government income and expenditure instrument to regulate the economy is termed______

#25. A form of tax that is midly progressive and regressive is_______

#26. Industrialization is the process of___________

#27. One of these is not a way by which government encourage industrialization?

#28. The sector which contribute highly to the economy is___________

#29. A permit that allows an importer to bring a certain quantity of foreign goods into a country is_________

#30. The lands that belong to the community is referred to as__________

#31. Among the disadvantages of the one-man business is the fact that______

#32. The most reliable and acceptable index of economic growth is the__________

#33. The release of a liquid petroleum hydrocarbon into the environment is_______

#34. ECOWAS was formed for the purpose of________

#35. Economics is a social science concerned with the proper use and______

#36. The determination of price by bargaining between buyers and sellers is________

#37. An economy system that uses what is regarded as the "Market mechanism" is called_______

#38. The last link in the channel of distribution is____________

#39. John an apprentice, engineer and amateur trumpet player, was earning ₦30 per week before accepting Full-time employment in a top orchestra, for which he now receives ₦150 per week. ₦120 of his current weekly earnings can be described as________

#40. Effective demand for a commodity is desire for that commodity backed by_______

#41. A commodity is defined as normal when its demand changes in the same direction as______

#42. Which of the following matters may account for changes in demand? I - changes in consumer preferences II - changes in real income III - changes in distribution of incomes IV - changes in levels of taxation

#43. An example of a market which approaches fairly near to perfection is____________

#44. Whether a monopolist is able to increase his revenue by restricting his output depends on the shape of the_________

#45. An example of a vertical combination is the merger of_________

#46. When of the following matters may account for changes in supply? I - technological advances in an industry II - changes in labour costs III - changes in source of supply IV - changes in levels of taxation

#47. A supply curve slopes upwards from the left to the right indicating__________

#48. Use the following information given to answer this question Total of all expenditure incurred during the year ₤ 80,000m Indirect taxes on goods and services ₤ 8,000m Capital consumption ₤ 6,000m National income is__________

#49. Use the following information given to answer this question Total of all expenditure incurred during the year ₤ 80,000m Indirect taxes on goods and services ₤ 8,000m Capital consumption ₤ 6,000m Gross national expenditure at factor cost is_________


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