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JAMB and WAEC Economics questions

745 questions with answers and explanations. Tap an option to check yourself.

AllJAMBWAEC
All topicsAgriculture in Nigeria · 30Business organisations · 29Economic growth and development · 30Economic systems · 28Economics as a science · 30Factors of production · 28Financial institutions · 30Industry and industrialisation · 30International economic organisations · 29International trade · 32Market structures · 31Methods and tools of economic analysis · 29Money and inflation · 34National income · 36Natural resources and the Nigerian economy · 30Population · 30Public finance · 31The labour market · 31Theory of consumer behaviour · 30Theory of costs and revenue · 33Theory of demand · 43Theory of price determination · 30Theory of production · 29Theory of supply · 32

  1. Question 321· Market structures· JAMB

    A monopolist maximises profit at the output where

    Explanation and discussion

  2. Question 322· Market structures· WAEC

    In perfect competition, firms are

    Explanation and discussion

  3. Question 323· Market structures· WAEC

    In perfect competition, a firm is a

    Explanation and discussion

  4. Question 324· Market structures· JAMB

    A natural monopoly arises where

    Explanation and discussion

  5. Question 325· Market structures· JAMB

    Price discrimination is possible when

    Explanation and discussion

  6. Question 326· Market structures· JAMB

    Under perfect competition in the long run, firms earn

    Explanation and discussion

  7. Question 327· Market structures· WAEC

    A market dominated by a few large firms is

    Explanation and discussion

  8. Question 328· Methods and tools of economic analysis· WAEC

    The median of 15, 9, 21, 12 and 18 is

    Explanation and discussion

  9. Question 329· Methods and tools of economic analysis· WAEC

    Which chart best shows the shares of total government spending on education, health, defence and roads?

    Explanation and discussion

  10. Question 330· Methods and tools of economic analysis· WAEC

    A survey found that a loaf of bread cost ₦600, ₦650, ₦650, ₦700 and ₦800 in five shops. Find the mode.

    Explanation and discussion

  11. Question 331· Methods and tools of economic analysis· WAEC

    Find the median of 7, 3, 9, 5 and 11.

    Explanation and discussion

  12. Question 332· Methods and tools of economic analysis· WAEC

    The mode of the data 3, 5, 5, 7, 9 and 5 is

    Explanation and discussion

  13. Question 333· Methods and tools of economic analysis· JAMB

    A household spends ₦15,000 of its ₦60,000 monthly budget on food. In a pie chart of the budget, the angle for food is

    Explanation and discussion

  14. Question 334· Methods and tools of economic analysis· WAEC

    The mean of 6, 8, 10, 12 and 14 is

    Explanation and discussion

  15. Question 335· Methods and tools of economic analysis· WAEC

    In a pie chart of total expenditure of ₦720,000, food costs ₦180,000. The angle for food is

    Explanation and discussion

  16. Question 336· Methods and tools of economic analysis· JAMB

    Find the mode of 3, 5, 5, 7, 9, 5, 7.

    Explanation and discussion

  17. Question 337· Methods and tools of economic analysis· WAEC

    The value that occurs most often in a set of data is the

    Explanation and discussion

  18. Question 338· Methods and tools of economic analysis· WAEC

    Find the mean of 12, 15, 18, 20 and 25.

    Explanation and discussion

  19. Question 339· Methods and tools of economic analysis· JAMB

    The price of a bag of rice rises from ₦50,000 to ₦60,000. Find the percentage increase.

    Explanation and discussion

  20. Question 340· Methods and tools of economic analysis· JAMB

    A graph of quantity demanded against price is used mainly to show

    Explanation and discussion

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