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

Economics Questions

Question 1256:

Any payment to a factor of production in excess of what is necessary to keep that factor in its present employment is known as?

Question 1257:

The opportunity cost of the use of productive resources which a producer owns and so does not pay constitutes?

Question 1258:

The effect of changes in the condition of demand on a demand schedule with the price constant is?

Question 1259:

Which of the following statement is TRUE of the effect of changes in demand and supply on price?

A A decrease in supply will lead to fall in price and a fall in the quantity bought and sold
B An increase in demand will lead to a fall in price and quantity bought and sold
C A decrease in demand will lead to a rise in price and in the quantity bought and sold
D An increase in supply will lead to a fall price and a rise in the quantity bought and sold

Question 1260:

In a free market economy, available resources are more efficiently allocated by complete reliance on?