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Economics Past Questions and Answers

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Waec Economics Questions

Question 426:

State any three positive and any two negative effects of petroleum industry on the economy of Nigeria.

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Question 427:

the study of Economics enables the individuals to

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A Be misserly in the spending of his money
B Derive maximum satisfaction from the money he spends
C Determines the right market to visit
D Avoids purchase of luxurious items
E Derive solution to all problems

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Question 428:

the study of Economics enables the individuals to

SchoolNGR Classroom

A Be misserly in the spending of his money
B Derive maximum satisfaction from the money he spends
C Determines the right market to visit
D Avoids purchase of luxurious items
E Derive solution to all problems

View Answer & Explanation

Question 429:

one way of solving the problem of scarcity that faces the individuals is for

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A The government to import goods massively so that the citizen can get all they want
B Them to work very hard so that they are able to buy all their wants
C Them to choose between alternative since they cannot meet all their wants
D The government to study people's behaviour in order to know their wants
E Them to use their resources as they want

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Question 430:

At what price will a trader be ready to sell 6 oranges using the equilibrium below. p = 1/2 q + 2. where p is price and q is quantity?

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A N3.00
B N4.00
C N5.00
D N6.00
E N8.00

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