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Friday, 17 April 2026
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Economics Past Questions and Answers

Waec Economics Questions

Question 1051:
The national income off a country can be estimated through the
  • A Output approach
  • B Input approach
  • C Empirical approach
  • D Census approach
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Question 1052:
A medium of exchange which is generally acceptable is
  • A Bater
  • B A cheque
  • C Government bond
  • D Money
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Question 1053:
Since money is demanded for what it can buy, the demand is said to be
  • A Derived
  • B Joint
  • C Composite
  • D Complementary
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Question 1054:
The supply of money in the economy includes
  • A Bank notes only
  • B Bank note and coins
  • C Bank notes and bank deposits
  • D Bank notes, coins and bank deposits
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Question 1055:
A continuous fall in the general price level is called
  • A Recession
  • B Depression
  • C Deflation
  • D Stagflation
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