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JAMB and WAEC Economics questions: Methods and tools of economic analysis

29 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 21· Methods and tools of economic analysis· JAMB

    The price of a good is ₦80 in 2020 (base year) and ₦100 in 2024. The price index for 2024 is

    Explanation and discussion

  2. Question 22· Methods and tools of economic analysis· JAMB

    A bar chart is suitable for

    Explanation and discussion

  3. Question 23· Methods and tools of economic analysis· JAMB

    The mean of 20, 30, 40 and 50 is

    Explanation and discussion

  4. Question 24· Methods and tools of economic analysis· WAEC

    The arithmetic mean of 4, 6, 8 and 10 is

    Explanation and discussion

  5. Question 25· Methods and tools of economic analysis· JAMB

    A trader's sales over five weeks were ₦4,000, ₦6,000, ₦8,000, ₦10,000 and ₦12,000. Find the mean and the range.

    Explanation and discussion

  6. Question 26· Methods and tools of economic analysis· JAMB

    A household spends ₦18,000 of its ₦72,000 monthly income on food. In a pie chart of its spending, the angle for food is

    Explanation and discussion

  7. Question 27· Methods and tools of economic analysis· WAEC

    A graph showing changes in a variable over time is a

    Explanation and discussion

  8. Question 28· Methods and tools of economic analysis· JAMB

    The mode of 3, 5, 5, 7, 8, 8, 8, 9 is

    Explanation and discussion

  9. Question 29· Methods and tools of economic analysis· JAMB

    Find the median of ₦20, ₦50, ₦30, ₦40 and ₦10.

    Explanation and discussion

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