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Wednesday, 01 April 2026
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Economics Past Questions and Answers

Economics Questions

Question 1341:
The current stage of the economy is depicted in curve 1. Point P suggests that the economy is
  • A Reaching full employment but not full prodduction
  • B Attaining full production but not full employment
  • C Under capitalized
  • D Attaining both full employment and full production
View Answer & Explanation
Question 1342:
The movement of curve I to ll suggests
  • A An improvement in capital goods technology but not in consumer goods technology
  • B A movement from unemployment to full employment
  • C That the output for the society has declined
  • D A gain in consumer goods technique and not in capital goods technique
View Answer & Explanation
Question 1343:
From the diagram above, the quantity of output is determined by the point
  • A M
  • B N
  • C H
  • D F
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Question 1344:
In the diagram below, the curve which represents firm's short-run average variable cost is curve
  • A L
  • B Ll
  • C Lll
  • D IV
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Question 1345:
One of the economic problems of Nigeria today arises from?
  • A The over utilization of human and natural resources
  • B Unavailability of mineral resources
  • C Inadequate manpower resources
  • D The under-utilization of human and natural resources
View Answer & Explanation