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

Economics Questions

Question 3476:

WAEC 2014

Which of the following statements is correct?

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A As total utility increases, the marginal utility also increases
B The marginal utility is a always zero whenever the total utility reaches the maximum
C The total utility is at maximum whenever marginal utility is at it's maximum
D There is no relationship between total utility and the marginal utility

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Question 3477:

WAEC 2014

A change in the quantity demanded of a given commodity is determined by the

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A Size of the population
B Income of the consumer
C Price of the commodity
D Taste and fashion

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Question 3478:

WAEC 2014

The likely implication of the devaluation of a country's currency is that

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A Exports of such a country become cheaper
B Importation of goods into such a country becomes cheaper
C The value of such a country's currency rises
D Foreign goods are attracted into the country

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Question 3479:

WAEC 2014

International trade is desirable because it

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A May lead to overproduction
B Brings about over-dependence of countries on one another
C Provides foreign market for local goods
D Brings about unhealthy competition and rivalries

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Question 3480:

WAEC 2014

A financial institution established for the purpose of providing specialzed services like acceptance of bills of exchange and equipment leasing is known as

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A Merchant Bank
B Development Bank
C Central Bank
D Insurance Company

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