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Tuesday, 07 July 2026
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Economics Past Questions and Answers

Economics Questions

Question 3116:
WAEC 2008
agriculture plays a dominant role in our country because
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  • A It is the main source of energy
  • B It employs more than 50% of the total labour force
  • C It supplies all the industrial inputs
  • D There are large plantations of cocoa, groundnut and palm oil
View Answer & Explanation
Question 3117:
WAEC 2008
the main objective of specialization is to
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  • A Allocate resources
  • B Limit worker's skills
  • C Increase the use of labour
  • D Increase productivity
View Answer & Explanation
Question 3118:
WAEC 2008
industry can be define as
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  • A Several firms producing different commodities
  • B Group of firms producing similar commodities
  • C Different firms producing equal number of commodities
  • D Many firms producing for exports
View Answer & Explanation
Question 3119:
WAEC 2008
Which of the following is a disadvantage of large scale production?
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  • A Market economies
  • B Managerial economies
  • C Personal organization
  • D Division of labour
View Answer & Explanation
Question 3120:
WAEC 2008
The national income off a country can be estimated through the
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  • A Output approach
  • B Input approach
  • C Empirical approach
  • D Census approach
View Answer & Explanation

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