JAMB and WAEC Economics questions

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

1. Question 61· Economic growth and development· JAMB

   Foreign aid can help development by

   • Araising illiteracy
   • Bincreasing debt only
   • Creducing exports
   • Dproviding capital and technical skills

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   Explanation and discussion

2. Question 62· Economic growth and development· JAMB

   The vicious circle of poverty describes how

   • Aexports equal imports
   • Bhigh income causes inflation
   • Cpopulation growth always stops
   • Dlow income leads to low saving, low investment and therefore low income again

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3. Question 63· Economic growth and development· JAMB

   An economy that depends heavily on a single export such as crude oil is described as

   • Aa closed economy
   • Ba diversified economy
   • Ca mono-product economy
   • Da command economy

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4. Question 64· Economic growth and development· JAMB

   Economic development differs from economic growth because development also involves

   • Aonly population growth
   • Bonly an increase in GDP
   • Cimprovements in living standards and economic structure
   • Da rise in imports

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5. Question 65· Economic growth and development· JAMB

   Sustainable development means

   • Aignoring the environment
   • Brapid exploitation of resources
   • Cmeeting present needs without compromising future generations
   • Dstopping growth

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6. Question 66· Economic growth and development· JAMB

   Saving is important for economic growth because it

   • Araises consumption
   • Breduces production
   • Cprovides funds for investment
   • Dincreases imports

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7. Question 67· Economic growth and development· WAEC

   An obstacle to economic development in many developing countries is

   • Ainadequate infrastructure
   • Btoo much capital
   • Cvery high savings
   • Dtoo few people needing goods

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   Explanation and discussion

8. Question 68· Economic growth and development· JAMB

   The Human Development Index combines measures of

   • Apopulation and land area
   • Blife expectancy, education and income
   • Cexports and imports
   • Dinflation and unemployment

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9. Question 69· Economic growth and development· WAEC

   The vicious circle of poverty implies that

   • Ahigh income causes poverty
   • Blow income leads to low savings, low investment and again low income
   • Csavings are always high
   • Dinvestment is unnecessary

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   Explanation and discussion

10. Question 70· Economic growth and development· WAEC

    Which indicator measures economic development rather than just economic growth?

    • Atotal exports
    • Bthe GDP growth rate
    • Cthe Human Development Index
    • Dthe money supply

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    Explanation and discussion

11. Question 71· Economic growth and development· JAMB

    Infrastructure includes

    • Aonly factories
    • Broads, power and water supply
    • Conly farms
    • Donly banks

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    Explanation and discussion

12. Question 72· Economic growth and development· WAEC

    A country's output rises but most people's health and education do not improve. This shows

    • Adevelopment without growth
    • Bgrowth without development
    • Cinflation
    • Ddeflation

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    Explanation and discussion

13. Question 73· Economic growth and development· JAMB

    An indicator of economic development is

    • Ahigher infant mortality
    • Brising illiteracy
    • Ca rising Human Development Index
    • Dfalling life expectancy

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    Explanation and discussion

14. Question 74· Economic growth and development· JAMB

    Capital formation means

    • Aprinting money
    • Bthe increase in the stock of capital goods
    • Cconsumption
    • Dimporting food

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15. Question 75· Economic growth and development· WAEC

    A major feature of developing countries is

    • Aheavy dependence on primary production
    • Bhigh income per head
    • Cadvanced technology everywhere
    • Dvery low birth rates

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16. Question 76· Economic growth and development· WAEC

    Rostow's stages of economic growth begin with the

    • Atake-off
    • Btraditional society
    • Cdrive to maturity
    • Dage of high mass consumption

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17. Question 77· Economic growth and development· JAMB

    A major obstacle to economic development in Nigeria is

    • Ainadequate infrastructure such as power and roads
    • Btoo many skilled workers
    • Cvery low population
    • Dexcess capital

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18. Question 78· Economic growth and development· WAEC

    Economic development differs from economic growth because development includes

    • Aonly a rise in output
    • Ba fall in population
    • Cimprovements in living standards and welfare
    • Dhigher taxes

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19. Question 79· Economic growth and development· WAEC

    Which of these is commonly used to measure a country's level of development?

    • Aexchange rate only
    • Bconsumer price index only
    • CHuman Development Index
    • Dnumber of banks

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20. Question 80· Economic growth and development· JAMB

    Foreign direct investment helps development by bringing

    • Aonly imports
    • Bonly loans
    • Conly aid
    • Dcapital, technology and jobs

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    Explanation and discussion