Economics Questions and Answers
Economics questions and answers to help you prepare for JAMB, WAEC, NECO, Post UTME and job aptitude tests or interviews.
Economics questions and answers to help you prepare for JAMB, WAEC, NECO, Post UTME and job aptitude tests or interviews.
70
47
74
40
Correct answer is C
Qd = 80 - 2P
When P = 3
Qd = 80 - 2(3)
Qd = 80 - 6
Qd = 74
Use the following information given to answer this question
₤ 88,000μ
₤ 82,000μ
₤ 74,000μ
₤ 72,000μ
Correct answer is C
GNP at cost = Expenditure - Depreciation
⇒ 80,000 - 6,000 = ₤ 74,000μ
Use the following information given to answer this question
₤ 74,000m
₤ 66,000m
₤ 60,000m
₤ 14,000m
Correct answer is B
National Income = Expenditure - Indirect taxes - Capital consumption (Depreciation)
N.I = 80,000 - 8,000 - 6,000 = ₤ 66,000m.
A supply curve slopes upwards from the left to the right indicating_________
A negative slope
A positive slope
A backward sloping supply curve
Short-run supply curve
Correct answer is B
A supply curve shows a graphical illustrations or diagrammatic representation of a supply schedule and slopes upwards from left to the right indicating a positive slope.
A supply curve sloping upwards from left to right or sloping downward from right to left.
I, II
I, III
II, III, IV
I, II, III, IV
Correct answer is D
A change in supply also known as shifts of the supply curve is determined by other factors affecting supply except price of the commodity when price is constant.