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Economics Past Questions and Answers

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Waec Economics Questions

Question 186:

Describe the factors that can affect the size of a country's population.

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Question 187:

Economics is a social science because it

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A Deals with an aspect of hman behaviour
B Provides people with commodity they want
C Deals with limited resources which have alternative uses
D Deals with the production of goods for present and future consumption
E Is related to how choice is made

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Question 188:

Economics is a social science because it

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A Deals with an aspect of hman behaviour
B Provides people with commodity they want
C Deals with limited resources which have alternative uses
D Deals with the production of goods for present and future consumption
E Is related to how choice is made

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Question 189:

Scarcity in Economics generally refers to

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A A period of production
B Hoarding of goods
C Monopolization of existing supply of resources
D Period of famine
E Resources being limited

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Question 190:

Opportunity cost is define as the

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A Money cost
B Cost of production
C Real cost
D Variable cost
E Fixed cost

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