[ Post UTME Begins ]: View The List Of Schools That Have Released 2026 Post-UTME Forms.
Your School's Whatsapp Group - Join Us now
WAEC and NECO CBT App for Mobile Devices - Candidates, Schools, Centres, Resellers - 100% Offline -Download Now
  1. Home
  2. Classroom
  3. Economics

Economics Past Questions

Clear Selections
Change Subject Post a Question Check Syllabus Study My Bookmarks Past Questions Videos Watch Video Lessons Download App

Post UTME Past Questions Agent
Your School's Whatsapp Group - Join Us now
WAEC and NECO CBT App for Mobile Devices - Candidates, Schools, Centres, Resellers - 100% Offline -Download Now
2511

If the price of a bicycle changes from N120 to N80 and quantity bought changes from 300 to 500 units, the elasticity of demand for bicycle is

  • A. 66.7
  • B. 0.5
  • C. 1.5
  • D. 2.0
View Answer & Discuss (4) JAMB 2013
2512

One of the assumptions of the cardinal approach is

  • A. diminishing marginal rate of substitution
  • B. the consistency and transitivity of choice
  • C. that total utility depends on the quantity of the commodities consumed
  • D. unstable marginal utility of money
View Answer & Discuss JAMB 2013
2513

Utility is the satisfaction derived from the

  • A. distribution of goods and services
  • B. use of goods and services
  • C. demand of goods and services
  • D. production of goods and services
View Answer & Discuss JAMB 2013
WAEC and NECO CBT App for Mobile Devices - Candidates, Schools, Centres, Resellers - 100% Offline -Download Now
Your School's Whatsapp Group - Join Us now
Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts
2514

One of the major factors that brings about changes in supply is

  • A. market discrimination
  • B. availability of storage facilities
  • C. the cost of storage
  • D. incentives granted to workers
View Answer & Discuss (3) JAMB 2013
2515

If the supply of a product is elastic, a small reduction in price will

  • A. reduce the cost of production
  • B. reduce the quantity supplied
  • C. increase the quantity supplied
  • D. lead to no change in the quantity supplied
View Answer & Discuss (3) JAMB 2013
Start a Free Practice Test
 
Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts
Post UTME Past Questions Agent
Your School's Whatsapp Group - Join Us now
WAEC and NECO CBT App for Mobile Devices - Candidates, Schools, Centres, Resellers - 100% Offline -Download Now