Economics Past Questions For JAMB, WAEC, NECO & Post UTME, With Answers, And Explanations - Economics

Economics Questions

Question 541:

Two goods, X and Y, are said to be complementary when?

Question 542:

Which of the following is NOT true about specialization or division of labour?

A Specialization and exchange go hand in hand
B Specialization implies that each person produces a surplus of one or a few items (e.g commodities) n which he is specialized
C Division of labour needs not take account of the extent of the market
D Division of labour results in increased productivity
E Division of labour involves the danger of unemployment

Question 543:

Money becomes a very poor store of value in a period of

Question 544:

Government in West Africa countries engage in running a number of enterprises because ?

A Large amount of capital are needed and key industries should not be left in private hands
B Private capital would not established an adequate infrastructure
C It brings about a more even distribution of the countryâ€™s wealth
D The social costs of some enterprises make the government the most suitable body to set them up
E All of the above

Question 545:

The function of money as a standard of deferred payments

A Make possible for an individual to build up store of many things for future use
B Makes it possible for payment to be postponed from the present to a future date
C Facilitate the exchange of goods
D Makes easy calculations possible
E None of the above