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Monday, 13 April 2026
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Economics Past Questions and Answers

Waec Economics Questions

Question 931:
The difference between the Gross National Products (GNP) and the Gross Domestic Product (GDP) is
  • A Total interest payment
  • B Net income generated internally
  • C Total national savings
  • D Net income from abroad
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Question 932:
which of the following agricultural system is mainly for the cultivation of food crops for family consumption?
  • A Co-operative farming
  • B Commercial farming
  • C Subsistence farming
  • D Plantation farming
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Question 933:
Agriculture is important to the economy of West African countries because it is the source of
  • A Power
  • B Equipment supply
  • C Industrial input
  • D Technological progress
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Question 934:
The economic system in which the state takes the economic decision s through detailed planning is
  • A Capitalism
  • B Socialism
  • C Traditional economic system
  • D Mixed economic system
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Question 935:
A mixed economy combines the characteristics of both
  • A Planned and capitalist economies
  • B Exchange and subsistence economies
  • C Subsistence and planned economies
  • D Capital and exchange economies
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