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Thursday, 09 July 2026
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Economics Past Questions and Answers

Economics Questions

Question 2946:
Government revenue from the groundnut industry is from
  • A Licences
  • B Rents
  • C Royalties
  • D Taxes
View Answer & Explanation
Question 2947:
The theory of comparative cost advantage is associated with
  • A Alfred Marshal
  • B Adam Smith
  • C David Ricardo
  • D J. B. Say
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Question 2948:
When the value of a nation’s export is greater than its imports
  • A A favourable balance of trade exists
  • B An unfavourable balance of payment exists
  • C The net foreign trade is zero
  • D Inflation occurs
View Answer & Explanation
Question 2949:
To improve the balance of payment s position in West African countries, there must be
  • A Removal of barriers to importation of goods and services
  • B Increase rate of exportation of goods and services
  • C Increase domestic consumption of foreign produced goods
  • D The development of the local market
View Answer & Explanation
Question 2950:
The Economic Community of the West African States (ECOWAS) is an example of
  • A Billateral trade
  • B Economic integration
  • C Regional marketing board
  • D International competition
View Answer & Explanation