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Economics Past Questions and Answers

Waec Economics Questions

Question 46:

The bulk of West African foreign trade is directed away from Africa to Europe and America. What are the reasons for this?

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Question 47:

Discuss the important role played by agriculture in the economy of your country.

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Question 48:

Scarcity in Economics means that resources

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A Are not enough to share among producers of goods and services
B Needed to satisfy human wants are limited
C Are never enough to share among consumers of goods and services
D Required to meet our essential wants are unlimited
E Can be managed if those who use them can behave rationally

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Question 49:

Scarcity in Economics means that resources

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A Are not enough to share among producers of goods and services
B Needed to satisfy human wants are limited
C Are never enough to share among consumers of goods and services
D Required to meet our essential wants are unlimited
E Can be managed if those who use them can behave rationally

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Question 50:

A table which shows the price of a commodity and the quantity of it that is demanded per unit time is a

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A Time series
B Demand series
C Demand curve
D Demand schedule
E Time schedule

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