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Economics Past Questions and Answers

Waec Economics Questions

Question 101:
which of the following are resources for holding money instead of investing it? I Transaction motive II. Precautionary motive III. Speculative motive IV. Liquidity motive
  • A I and II only
  • B I and III only
  • C I, II and III only
  • D I, II and IV only
  • E II, III and IV only
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Question 102:
it is general belief that inflation in West Africa is caused by all the factors listed below except
  • A Excessive bank lending
  • B Budget deficit
  • C Rising incomes
  • D Shortage supply
  • E Decrease in money supply
View Answer & Explanation
Question 103:
all the following are specific examples of indirect tax except
  • A Purchases tax
  • B Import duty
  • C Export duty
  • D Excise duty
  • E Poll tax
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Question 104:
Demand in Economics is synonymous with
  • A Needs
  • B Wants of the consumer
  • C All goods demanded in the market
  • D Wants supported with ability to pay
  • E All consumers goods
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Question 105:
All the following factors will cause a change in demand except
  • A The consumer's income
  • B The consumer's taste
  • C A change in population size
  • D A change in weather condition
  • E The price of commodity
View Answer & Explanation