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Monday, 04 May 2026
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Economics Past Questions and Answers

Waec Economics Questions

Question 1101:
who among the following is the intermediary between the producer and the retailer?
  • A Agent
  • B Wholesaler
  • C Consumer
  • D Distributor
View Answer & Explanation
Question 1102:
which of the following sector is most capital intensive?
  • A Insurance
  • B Petroleum
  • C Commerce
  • D Tourism
View Answer & Explanation
Question 1103:
A society that operates below the production possibility curve is using its productive resources
  • A Optimally
  • B Efficiently
  • C Inefficiently
  • D Maximally
View Answer & Explanation
Question 1104:
labour can be efficient when there are
  • A Adequate tools to work with
  • B High level of employment
  • C Limited vacancies
  • D Government restrictions
View Answer & Explanation
Question 1105:
What accounts for the ‘U-shaped’ of the short run average cost (AC) curve?
  • A The law of variable proportions
  • B Increasing returns to scale
  • C Decreasing use of inputs
  • D Change output during the production period
View Answer & Explanation