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Monday, 29 June 2026
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Economics Past Questions and Answers

Economics Questions

Question 4691:
JAMB 2023
The economies of West African Countries depend majorly on
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  • A Primary product
  • B Secondary product
  • C Tertiary product
  • D Manufacturing product
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Question 4692:
A situation where unlimited human wants exceed available resources leads to:
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  • A Economic problem
  • B Consumer surplus
  • C Capital formation
  • D Market equilibrium
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Question 4693:
Goods whose demand rises when income increases are:
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  • A Free goods
  • B Inferior goods
  • C Public goods
  • D Normal goods
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Question 4694:
In a free market economy, prices are mainly determined by:
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  • A Demand and supply
  • B Labour unions
  • C Government decree
  • D Religious bodies
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Question 4695:
The reward for labour is:
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  • A Wages
  • B Rent
  • C Interest
  • D Profit
View Answer & Explanation

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