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Economics 2002 WAEC Past Questions

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1
Economics is best described as the study of
  • A. the wealth of nations
  • B. how man consume his products
  • C. how man provides for his everyday needs
  • D. the distribution of wealth
View Answer & Discuss (2) WAEC 2002
2
The most frequent occurring value in a given data is the
  • A. mode
  • B. median
  • C. mean
  • D. range
View Answer & Discuss WAEC 2002
3
Subsistence production means that goods and services are
  • A. produced for consumption only
  • B. sold to others
  • C. sold in the country
  • D. produced for the market
View Answer & Discuss WAEC 2002
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4
Warehouse facilities in the distribution and marketing of products are provided by
  • A. manufacturer
  • B. wholesaler
  • C. retailer
  • D. advertisers
View Answer & Discuss WAEC 2002
5
Which of the following is a reward to a factor of production?
  • A. interest
  • B. donation
  • C. gifts
  • D. subsidy
View Answer & Discuss WAEC 2002
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