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Economics Past Questions and Answers

Economics Questions

Question 3006:
Agriculture is important to the economy of West African countries because it is the source of
  • A Power
  • B Equipment supply
  • C Industrial input
  • D Technological progress
View Answer & Explanation
Question 3007:
The economic system in which the state takes the economic decision s through detailed planning is
  • A Capitalism
  • B Socialism
  • C Traditional economic system
  • D Mixed economic system
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Question 3008:
A mixed economy combines the characteristics of both
  • A Planned and capitalist economies
  • B Exchange and subsistence economies
  • C Subsistence and planned economies
  • D Capital and exchange economies
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Question 3009:
In a rapidly growing economy, a change in technology which is labour saving is likely to cause
  • A Residual unemployment
  • B Structural unemployment
  • C Disguised unemployment
  • D Frictional unemployment
View Answer & Explanation
Question 3010:
which of the following is a form of tax evasion?
  • A Wrong declaration of earnings
  • B Payment of flat rate tax
  • C Constant change of employment
  • D Low capacity utilization
View Answer & Explanation