Economics Past Questions And Answers

Note: You Can Select Post UTME Schools Name Below The Exam Year.
3271

Which of the following is the function of a central bank?

  • A. accepting deposits from the public
  • B. lending to the commercial banks
  • C. discounting bills of exchange
  • D. agent of payment for individuals
View Discussion (0)WAEC 2003 OBJ
3272

How are credit sales by a department treated?

  • A. the same way as normal debtors' transactions
  • B. in a different way from normal debtors' transactions
  • C. as an addition to the production manager's account
  • D. as an addition to the production managers' account
View Discussion (0)JAMB 2004
3273

If the price of a bicycle changes from N120 to N80 and quantity bought changes from 300 to 500 units, the elasticity of demand for bicycle is

  • A. 66.7
  • B. 0.5
  • C. 1.5
  • D. 0.2
View Discussion (0)JAMB 2013
3274

Balance of payments and trade problems that arose after the world wars were resolved by the____________

  • A. International Bank tor Reconstruction and Development.
  • B. International Monetary Fund.
  • C. African Development Bank.
  • D. Organization of Petroleum Exporting Countries.
View Discussion (0)WAEC 2021 OBJ
3275

Post harvest losses in West African countries can be reduced if

  • A. the land tenure system could be reformed
  • B. more irrigation schemes could be provided
  • C. better storage facilities could be provided
  • D. erosion is controlled
View Discussion (0)WAEC 2013 OBJ
3276

The theory of diminishing marginal utility states that as more units of a commodity are consumed, the

  • A. satisfaction from an extra unit decreases
  • B. satisfaction from an extra unit rises
  • C. satisfaction from an extra units remains constant
  • D. total satisfaction from the goods remains the same
View Discussion (0)WAEC 2008 OBJ
3277

A capitalist economy is one characterized by the?

  • A. private ownership of factors of production
  • B. ownership of factors of production by rich members of the society
  • C. use of capital and labour in fixed proportions during production
  • D. use of capital intensive methods of production
View Discussion (0)JAMB 1999
3278

If TC, FC and VC represent total cost, fixed cost and variable cost respectively, which of the following is correct?

  • A. TC = FC - VC
  • B. FC = TC + VC
  • C. TC > FC + VC
  • D. TC = FC + VC
View Discussion (0)WAEC 2010 OBJ
3279

Which of the following is not a reason for holding money?

  • A. Ostentation
  • B. Speculations
  • C. Transactions
  • D. Precautionary
View Discussion (0)WAEC 2010 OBJ
3280
This is a pie-chart showing the age distribution of population. The total population is 120 million. The official school-leaving age is 18 years while the official retiring age is 55 years. (a) From the above information, calculate the: (i) Population of children between 0 and 17 years. (ii) population of old people (55 + years); (iii) work-ing population (18 - 54 years) .

(b) what is the economic implication of the above population structure?

View Discussion (0)WAEC 1991 THEORY