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Sunday, 03 May 2026
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Economics Past Questions and Answers

Waec Economics Questions

Question 1631:
A baker bought flour and other ingredients for $250.00, spent $52.00 on distribution, sold the bread for $320.00. the value added by the baker is?
  • A $302.00
  • B $52.00
  • C $18.00
  • D $622.00
View Answer & Explanation
Question 1632:
in a country with large population of full-time housewives, national income
  • A Will be composed of goods produced by women
  • B Figures will be grossly over-stated
  • C Statistics will be difficult to calculate
  • D Figures will be grossly under-stated
View Answer & Explanation
Question 1633:
demand pull inflation is likely to be caused by?
  • A An increase in the cost of factors inputs
  • B Increase in the income tax rate
  • C Increase in bank lending rates
  • D Increasingly large budget deficit
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Question 1634:
Holding money to take care of contigencies is?
  • A A speculative motive
  • B A transaction motive
  • C A precautionary motive
  • D An expansionary motive
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Question 1635:
if a housewife has meat and tomatoes, she must find someone who wants meat and has tomatoes to give. this concept is described as?
  • A Opportunity cost
  • B Scale of preference
  • C Complementary demand
  • D Double of coincidence of wants
View Answer & Explanation