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Sunday, 03 May 2026
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Economics Past Questions and Answers

Waec Economics Questions

Question 1601:
(a) Define inflation.
(b) Identify any three causes of: (i) demand-pull inflation; (ii) cost-push inflation .
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    Question 1602:
    (a) What is economic development?
    (b) State three features of a developing country.
    (c) Explain any four factors that can speed up the economic development of your country.
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      Question 1603:
      Economic problem arise in all society because?
      • A Resources are mismanaged by leaders
      • B There is no proper planning
      • C Resources are not in adequate supply
      • D The services of economist are not employed
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      Question 1604:
      Economic problem arise in all society because?
      • A Resources are mismanaged by leaders
      • B There is no proper planning
      • C Resources are not in adequate supply
      • D The services of economist are not employed
      View Answer & Explanation
      Question 1605:
      which of the following is not emphasized in a production possibility curve
      • A Scarcity of resources
      • B Economic development
      • C Inefficiency in the use of resources
      • D Unemployment of labour
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