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Economics Past Questions and Answers

Waec Economics Questions

Question 156:
Which of the following functions do retailers perform in an economy?
  • A Production
  • B Exchange
  • C Hoarding
  • D Distribution
  • E Investment
View Answer & Explanation
Question 157:
A movement along the demand curve for some goods may be caused by a change in
  • A Consumer income
  • B The price of goods
  • C Consumers taste
  • D The price of other goods
  • E Population
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Question 158:
which of the following item is not included in measuring national income by the income approach?
  • A Wages and salaries of public servants
  • B Student's grants and scholarships
  • C Profits of companies
  • D Income earned by self-employed persons such as lawyers
  • E Rents on property
View Answer & Explanation
Question 159:
if an economy is growing at an annual rate of 7% and 4% of it is known to be due to the improvement in labour ans capital combined, the balance of 3% is usually attributed to
  • A Land and enterprenuer
  • B Abundance of natural resources
  • C Level of human capital
  • D Technical progress and related factors
  • E Discipline in political leadership
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Question 160:
A government treasury bill is a form of debt instrument which falls due for repayment after
  • A 3 months
  • B 9 months
  • C 2 years
  • D 5 years
  • E 10 or more years
View Answer & Explanation