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Economics 1992 WAEC Past Questions

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6
In Economics production is complete when
  • A. goods are produced in the factories
  • B. goods are sold to wholesalers
  • C. prices are fixed for goods and services
  • D. goods and services reach the consumer
  • E. goods are sold to retailers
View Answer & Discuss WAEC 1992
7
which of the following is not a characteristics of money?
  • A. Scarcity
  • B. Durability
  • C. Divisibility
  • D. Homogeneity
  • E. Mobility
View Answer & Discuss (3) WAEC 1992
8
which of the following defines Economics most comprehensively ?
  • A. The study of buying and selling
  • B. The organization of industries and markets
  • C. The study of human behaviour in the allocation of scarce resources
  • D. National development, planning and budgeting
  • E. The study of market forces as they affected human behaviour
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9
A society that is on its production possibility curve
  • A. has attained full employment but not full production
  • B. has attained full production but not full employment
  • C. is using its resources inefficiently
  • D. has attained both full employment and full production
  • E. has a lower output level than it should have
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10
Money becomes a very poor store
money becomes a very poor stone of value in a period of
  • A. deflation
  • B. stable prices
  • C. recession
  • D. inflation
  • E. harvest
View Answer & Discuss WAEC 1992
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