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Economics 2006 WAEC Past Questions

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1
The study of economics enables the individuals to
  • A. change jobs
  • B. evades taxes
  • C. accumulate huge wealth
  • D. make rational decisions
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2
Most of the problems of economics arises as a result of
  • A. competing demand for scarce resources
  • B. increase in the demand for more goods and services
  • C. the desire of producers to supply more goods and services
  • D. the need to reduce the level of poverty
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3
which of the following tool of economic analysis is used when data contains more than one category?
  • A. Bar charts
  • B. component bar charts
  • C. Graphs
  • D. Symbolical sratement
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4
The reward to capital as a factor of production is
  • A. rent
  • B. wage
  • C. interest
  • D. commission
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5
mining is an example of
  • A. tertiary production
  • B. primary production
  • C. secondary production
  • D. advanced production
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