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Economics 2004 WAEC Past Questions

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1
Which of the following is an economic activity?
  • A. attending a town's meeting
  • B. a visit to the stadium
  • C. payment of school fees
  • D. arresting a petty thief
View Answer & Discuss WAEC 2004
2
The reward for land as a factor of production is
  • A. interest
  • B. rent
  • C. dividends
  • D. wages
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3
The three broad categories of productions are
  • A. direct, secondary and extractive
  • B. primary, tertiary and direct
  • C. primary, secondary and tertiary
  • D. secondary , primary and direct
View Answer & Discuss WAEC 2004
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4
A carpenter's consumer goods includes 1. a kilogram of rice II. 3 pairs of shoes III. 4 pairs of socks IV. 3 screw drivers
  • A. I and IV only
  • B. I,II,III and IV
  • C. I, II and IV only
  • D. I, II and III and III
View Answer & Discuss (3) WAEC 2004
5
In a capitalist system, the means of production is owned and controlled by
  • A. the government
  • B. politicians
  • C. private indidviduals
  • D. the workers
View Answer & Discuss WAEC 2004
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