Search SchoolNGR

Friday, 19 June 2026
Register . Login

Economics Past Questions and Answers

Economics Questions

Question 4256:
The basic economics problem of what to produce arises as a result of ____________
  • A Competing demands for scarce resources
  • B Excessive supply
  • C The availability of too many experts
  • D The failure of the price system
  • E The reduction of poverty
View Answer & Explanation
Question 4257:
In international trade, when payments of a country are higher than the receipts, then the balance of payment is ____________
  • A Favourable
  • B In equilibrium
  • C Perfect
  • D Unfavourable
  • E Uniform
View Answer & Explanation
Question 4258:
When total utility is at maximum, then marginal utility is ____________
  • A Decreasing
  • B Increasing
  • C Maximum
  • D Negative
  • E Zero
View Answer & Explanation
Question 4259:
The following are the main problems of distribution of essential commodities in Nigeria EXCEPT
  • A Excessive demand
  • B Hoarding of goods
  • C Long chain of distribution
  • D Poor storage facilities
  • E Poor transportation network
View Answer & Explanation
Question 4260:
The introduction of money into the economy has helped to resolve the following problems EXCEPT
  • A Accessibility of needs
  • B Availability of goods
  • C Coincidence of wants
  • D Making deferred payments
  • E Measure and store of value
View Answer & Explanation