Economics 2018 Past Questions | WAEC

Study the following Economics past questions and answers for JAMBWAEC  NECO and Post-JAMB. Get prepared with official past questions and answers for upcoming examinations.

31. Holding money to take care of contigencies is?

  • A. a speculative motive
  • B. a transaction motive
  • C. a precautionary motive
  • D. an expansionary motive

32. If a housewife has meat and tomatoes, she must find someone who wants meat and has tomatoes to give. this concept is described as?

  • A. opportunity cost
  • B. scale of preference
  • C. complementary demand
  • D. double of coincidence of wants

33. The stock exchange is an example of the?

  • A. labour market
  • B. money market
  • C. commodity market
  • D. capital market

34. What happens when the central bank increases bank rate in an economy

  • A. borrowing is discouraged
  • B. customers increase their borrowing
  • C. banks can increase their lending
  • D. money supply increases

35. Income is redistributed when the rich are progressively taxed and?

  • A. more private schools are established
  • B. subsidy is provided on petroleum products
  • C. more public goods are provided
  • D. farmers are given guaranteed prices

36. in order to increase revenue, government should tax commodities for which demand is? 

  • A. perfectly price inelastic
  • B. price inelastic
  • C. price elastic
  • D. unitary elastic

37. Which of the following activities will not lead to economic growth?

  • A. massive importation of capital goods
  • B. intensive capital formation locally
  • C. use of modern technology
  • D. massive importation of consumer goods

38. The poorer the country, the larger the percentage of labour force engaged in?

  • A. Agricultural
  • B. mining
  • C. trading
  • D. manufacturing

39. Which of the following measure can be adopted to stabilize the external value of the local currency?

  • A. reduce the volume of export
  • B. increase the demand for imports
  • C. increase domestic money supply
  • D. reduce the demand for imports

40. Which of the following is not a measure for reducing balance of payments deficits?

  • A. export drive
  • B. reducing tarriffs
  • C. adding to export goods
  • D. increasing local production
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