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Economics Past Questions and Answers

Economics Questions

Question 2971:
WAEC 2006
Most of the problems of economics arises as a result of
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  • A Competing demand for scarce resources
  • B Increase in the demand for more goods and services
  • C The desire of producers to supply more goods and services
  • D The need to reduce the level of poverty
View Answer & Explanation
Question 2972:
WAEC 2006
which of the following tool of economic analysis is used when data contains more than one category?
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  • A Bar charts
  • B Component bar charts
  • C Graphs
  • D Symbolical sratement
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Question 2973:
WAEC 2006
The reward to capital as a factor of production is
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  • A Rent
  • B Wage
  • C Interest
  • D Commission
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Question 2974:
WAEC 2006
mining is an example of
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  • A Tertiary production
  • B Primary production
  • C Secondary production
  • D Advanced production
View Answer & Explanation
Question 2975:
WAEC 2006
An owner-manager of a firm can also be called
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  • A A shareholder
  • B An entrepreneur
  • C An employer
  • D A chairman
View Answer & Explanation

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