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Economics Past Questions and Answers

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Waec Economics Questions

Question 536:
WAEC 2000
Scarcity implies that
SchoolNGR Classroom
  • A Goods cannot be produced efficiently
  • B Human wants are unlimited
  • C Goods and services are limited in supply
  • D Commodities are evenly distributed within the economy
View Answer & Explanation
Question 537:
WAEC 2000
Scarcity implies that
SchoolNGR Classroom
  • A Goods cannot be produced efficiently
  • B Human wants are unlimited
  • C Goods and services are limited in supply
  • D Commodities are evenly distributed within the economy
View Answer & Explanation
Question 538:
WAEC 2000
economy problems arises mainly as a result of
SchoolNGR Classroom
  • A Inaccurate statistical data in West Africa
  • B Excessive wastage of available resources
  • C Lack of foresight on the part of resource users
  • D Limitation in the availability of resouces
View Answer & Explanation
Question 539:
WAEC 2000
Basic extractive activities are classified as
SchoolNGR Classroom
  • A Manufacturing production
  • B Tertiary production
  • C Secondary production
  • D Primary production
View Answer & Explanation
Question 540:
WAEC 2000
The entire satisfaction that a consumer derived from a successive consumption of a particular commodity is known as
SchoolNGR Classroom
  • A Marginal utility
  • B Total utility
  • C Average utility
  • D Diminishing utility
View Answer & Explanation

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