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

Economics Questions

Question 4891:

The law of diminishing marginal utility states that the more a commodity is consumed the

Question 4892:

One of the fundamental differences between capitalist and a socialist state is that while:

A There is equality in distribution of wealth in the socialist state, it is not so in a capitalist economy
B Taxes are levied in a socialist economy; there is no taxation in
C The former is governed by the principle of the survival of the fittest, the latter is concerned with the welfare of all
D In the former, price mechanism guides the allocation of resources, is the government agency that performs this function in the latter

Question 4893:

The following are examples of economic goods except