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Economics 2007 WAEC Past Questions

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1
The three principal economic unit in any system are
  • A. trade, industry and banking
  • B. workers, consumers and shareholders
  • C. households, firms and governments
  • D. comapnies, industry and plants
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2
The satisfaction derived from the use of a commodity is its
  • A. demand
  • B. elasticity
  • C. wealth
  • D. utility
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3
The reward which accrues to labour for participating in production is
  • A. interest
  • B. wage
  • C. bonus
  • D. profit
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WAEC Past Questions, Objective & Theory, Study 100% offline, Download app now - 24709
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4
The Malthusian theory of population does not concern itself with
  • A. growth of food production in arithmetical progression
  • B. growth of population in geometric progression
  • C. positive check to population growth
  • D. development and growth of manpower
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5
one characteristics of labour is that it is
  • A. fixed in demand
  • B. fixed in supply
  • C. mobile
  • D. untrainable
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Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts
WAEC Past Questions, Objective & Theory, Study 100% offline, Download app now - 24709
Download WAEC May/June App - Get all past questions and answers, 100% offline - 43208
WAEC offline past questions - with all answers and explanations in one app - Download for free