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Economics Past Questions and Answers

Waec Economics Questions

Question 1546:

Economics is regarded as a science because?

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A Its issues can be easily verified by reference to facts
B It adopts scientific methods in making its analysis
C Its issues are relevant for national development
D Its subject matter studies human behaviour

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Question 1547:

Economics is regarded as a science because?

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A Its issues can be easily verified by reference to facts
B It adopts scientific methods in making its analysis
C Its issues are relevant for national development
D Its subject matter studies human behaviour

View Answer & Explanation

Question 1548:

the opportunity cost of a worker going to the university is

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A Tuition, fees and books
B Boarding and lodging
C The wages given up to attend the university
D Transportation and entertainment

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Question 1549:

which of the following items is not an example of circulating capital

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A Raw material
B Money
C Fuel
D Machinery

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Question 1550:

in a market economy, the problem of what goods to produced is solved primarily by

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A Directives of the government
B The pattern of consumers spending
C Producers of consumer goods
D People producing what they want

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