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Economics 2015 WAEC Past Questions

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1

Economics is regarded as a science because it?

  • A. studies laws that govern human behaviour
  • B. uses scientific method to explain human behaviour
  • C. makes use of controlled experiments to explain human behaviour
  • D. makes use of machines to study human behaviour
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2

which of the following can be described as land

  • A. forest
  • B. diamond
  • C. roads
  • D. crude oil
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3

An outward shift of the production possibility curve shows that?

  • A. production is shifting to the left
  • B. resources are under-utilized
  • C. economic growth has taken place
  • D. factors of production are moving outward
View Answer & Discuss (3) WAEC 2015
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4

The following constitute the criteria for identifying an economic system except?

  • A. ownership of resources
  • B. scarcity of resources
  • C. method of decision making
  • D. motivation for production
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5

A disadvantage of the mean as measure of central tendency is that?

  • A. is affected by extreme values
  • B. can only be used for continuous data
  • C. cannot be used to measure the qualities of a population
  • D. cannot be determined in group data
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