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Economics 1989 WAEC Past Questions

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1
Scarcity in Economics means that resources
  • A. Are not enough to share among producers of goods and services
  • B. Needed to satisfy human wants are limited
  • C. Are never enough to share among consumers of goods and services
  • D. Required to meet our essential wants are unlimited
  • E. Can be managed if those who use them can behave rationally
View Answer & Discuss WAEC 1989
2
A table which shows the price of a commodity and the quantity of it that is demanded per unit time is a
  • A. Time series
  • B. Demand series
  • C. Demand curve
  • D. Demand schedule
  • E. Time schedule
View Answer & Discuss WAEC 1989
3
The greatest disadvantages f barter system is the need for
  • A. Durability
  • B. Divisibility
  • C. Homogeneity
  • D. Double coincidence of wants
  • E. Portability
View Answer & Discuss WAEC 1989
Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts
WAEC offline past questions - with all answers and explanations in one app - Download for free
WAEC Past Questions, Objective & Theory, Study 100% offline, Download app now - 24709
4
An inflation in which the price rises steadily at an average rate of about 2% per annum is best described ad
  • A. Galloping
  • B. Induced
  • C. Creeping
  • D. Suppressed
  • E. Run-away
View Answer & Discuss WAEC 1989
5
In Economics market is define as
  • A. A place where buyers and sellers come together to exchange goods
  • B. Any agreement made for consumers to buy all they need
  • C. any arrangement made for producers to sell all their goods
  • D. any arrangement where by buyers and sellers are in close touch with one another
  • E. a place where only consumer goods are sold
View Answer & Discuss (2) WAEC 1989
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WAEC offline past questions - with all answers and explanations in one app - Download for free
Download WAEC May/June App - Get all past questions and answers, 100% offline - 43208
Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts
WAEC Past Questions, Objective & Theory, Study 100% offline, Download app now - 24709