Economics 1990 WAEC Past Questions

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Economics can be best defined as the study of

A. how to spend the family income efficiently
B. how to find minimum cost of production
C. the interpretation of scarce resourceand date
D. how scarce resource can be used efficiently
E. why resource are scarce

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which of the following are resources for holding money instead of investing it? I Transaction motive II. Precautionary motive III. Speculative motive IV. Liquidity motive

A. I and II only
B. I and III only
C. I, II and III only
D. I, II and IV only
E. II, III and IV only

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it is general belief that inflation in West Africa is caused by all the factors listed below except

A. excessive bank lending
B. budget deficit
C. rising incomes
D. shortage supply
E. decrease in money supply

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all the following are specific examples of indirect tax except

A. purchases tax
B. import duty
C. export duty
D. excise duty
E. poll tax

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Demand in Economics is synonymous with

A. needs
B. wants of the consumer
C. all goods demanded in the market
D. wants supported with ability to pay
E. all consumers goods

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Economics 1990 WAEC Past Questions

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