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Economics Past Questions and Answers

Waec Economics Questions

Question 1201:
WAEC 2010
(a) What is a commercial bank? [4 marks]
(b) Describe any four ways by which the Central Bank controls the amount of credit given by the commercial bank [16 marks]
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    Question 1202:
    WAEC 2011
    Human wants are
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    • A Limited
    • B Scarce
    • C Unlimited
    • D In grades
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    Question 1203:
    WAEC 2011
    Human wants are
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    • A Limited
    • B Scarce
    • C Unlimited
    • D In grades
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    Question 1204:
    WAEC 2011
    The difference between the money cost and the real cost of any item is that
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    • A Real cost is the alternative forgone while the money cost is the actual amount paid for buying the item
    • B The real cost is the opportunity cost, while the money cost is the marginal cost
    • C Money cost is the opportunity cost, while the real cost is the actual cost in monetary terms
    • D Money cost is always greater than the real cost
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    Question 1205:
    WAEC 2011
    The production possibility curve (PPC) indicates that as more of one good is produced.
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    • A Less of the other goods is produced
    • B The same quantity of the other good is produced
    • C More of the other good is produced
    • D None of the other good is produced
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