Economics Past Questions

If Mr. A earns N2,000 and pays N200 (10%) and Mr. B earns N8,000 and pays N400 (5%), such tax is:

Which of these is NOT usually the function of a wholesaler?

If quantity demanded increases from 20 to 30 as price increases from N4 to N5, the elasticity of demand is:

By utility we mean:

The following are economic agents in any economy EXCEPT:

The choice of how to produce in a command economy is determined by the ________.

In capitalist economies, questions about what to produce are ultimately answered by the ________.

The most suitable measure of dispersion to evaluate the variation in height among trees in a forest is ________.

A change in demand for a normal good implies that there is a ________.

If a 10% rise in price causes a 5% decrease in the quantity demanded of a commodity, the price elasticity of demand is ________.

A parallel rightward shift of the budget line is caused by a ________.

Given the supply function P = 1/4(Qs + 10), when P = ₦10, what is Qs?