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Thursday, 30 April 2026
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Economics Past Questions and Answers

Waec Economics Questions

Question 1321:
WAEC 2013
In Economics , a market is defined as any
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  • A Agreement made for consumers to buy all they need
  • B Ngement made for producers sell all their goods
  • C Agreement to sell commodities at low prices
  • D Arrangement whereby the buyers and sellers are in contact
View Answer & Explanation
Question 1322:
WAEC 2013
Which of the following is not a function of an insurance company?
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  • A Pooling resources together against risks
  • B Mobilization of funds through premiums collected
  • C Encouragement of investment by security of capital
  • D Collection of deposits from the public for investment
View Answer & Explanation
Question 1323:
WAEC 2013
A debenture holder earns
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  • A Commission
  • B Profits
  • C Fixed interest
  • D Quasi-rent
View Answer & Explanation
Question 1324:
WAEC 2013
All economic systems must decide what to produce because
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  • A Resources are not available
  • B Consumers want maximum satisfaction
  • C Resources are limited in supply
  • D Producers want maximum profit
View Answer & Explanation
Question 1325:
WAEC 2013
Trade between two countries is known as
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  • A Bilateral trade.
  • B Bilateria trade
  • C Multilateral trade
  • D Internal trade
View Answer & Explanation

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