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JAMB 2025 UTME Begins
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Enter JAMB 24th April 2025 Candidates - Live Updates!
Home
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Economics
WAEC 2005
Economics 2005 WAEC Past Questions
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1
Economic activities are undertaken to solve the problem of
A.
Desire to spend more income on consumption
B.
opprotuinity cost
C.
production
D.
scarcity
View Answer & Discuss
WAEC 2005
2
Farming, mining and fishing are
A.
primary production
B.
secondary production
C.
tertiary production
D.
intermediate production
View Answer & Discuss
WAEC 2005
3
A list of consumer's wants arranged in order of priorities is known as
A.
a budget
B.
an opprotuniy cost
C.
A scale of preference
D.
choice
View Answer & Discuss
WAEC 2005
4
The 150.00 Naira which Olu would have used to purchase a textbook was used to buy a T-shirt . This implies that
A.
Olu's real cost is 150.00 Naira
B.
Olu's opprtunity cost is the T-shirt he bought
C.
Olu's opportunity cost is the textbook
D.
Olu's money cost is also the real cost
View Answer & Discuss
WAEC 2005
5
The remuneration of the entrepreneur as a factor of production is called
A.
wages
B.
salary
C.
interest
D.
profit
View Answer & Discuss (1)
WAEC 2005
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