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Friday, 06 November 2026
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Economics Past Questions and Answers

Waec Economics Questions

Question 76:
The money paid per hour or week for work done is known as
  • A Cost
  • B Time rate
  • C Bonus
  • D Wage rate
  • E Labour
View Answer & Explanation
Question 77:
in a rapidly growing economy where human labour is being replaced by machines, there is likely to be
  • A Classical unemployment
  • B Frictional unemployment
  • C Seasonal unemployment
  • D Residual unemployment
  • E Cyclical unemployment
View Answer & Explanation
Question 78:
Distribution is part of production because it
  • A Makes goods and services available to the final consumer
  • B Transport the goods from place to place
  • C Offers employment to people
  • D Encourages the provision of good roads, waterways and railways
  • E Links the consumer with the producer
View Answer & Explanation
Question 79:
The grouping of a population into males and females is known as the
  • A Geographical distribution
  • B Age distribution
  • C Sex distribution
  • D Man-woman distribution
  • E Occupational distribution
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Question 80:
which of the following is the most important reason why wages differ among occupations?
  • A Length and cost of training
  • B Supply of labour
  • C Attractiveness of the job
  • D Influence of trade unions
  • E Government decision
View Answer & Explanation