Search SchoolNGR

Economics Past Questions and Answers

Waec Economics Questions

Question 6:

in any economic system , which of the following is not an economic problem?

SchoolNGR Classroom

A What goods and services to produce
B For whom to produce goods or services
C What techniques of production to be adopted
D Equal distribution of goods and services
E How to ensure that the economy grow over time

View Answer & Explanation

Question 7:

In which of the following economics system is the consumer referred to as ‘The King’?

SchoolNGR Classroom

A Planned economy
B Mixed economy
C Traditional economy
D Free Market economy
E Socialist economy

View Answer & Explanation

Question 8:

Into which of these organization would you classify the International Monetary Fund (IMF) ?

SchoolNGR Classroom

A Political organization
B Trade organization
C Financial organization
D Social organization
E Commercial organization

View Answer & Explanation

Question 9:

A normal demand curve is

SchoolNGR Classroom

A Is concave to the point of origin
B Is convex to the point of origin
C Is parallel to X axis
D Is parallel to Y axis
E Slopes upwards from left to right

View Answer & Explanation

Question 10:

A demand schedule is

SchoolNGR Classroom

A A table containing the price of goods
B A table showing the relationship between price and quantity demanded of a commodity
C A table showing the consumer demand on order of importance
D The quantity of goods the consumer is prepared to buy
E The market demand

View Answer & Explanation

Stay Updated

Follow us on:

Subjects