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Economics 2018 WAEC Past Questions

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1

Economic problem arise in all society because?

  • A. resources are mismanaged by leaders
  • B. there is no proper planning
  • C. resources are not in adequate supply
  • D. the services of economist are not employed
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2

which of the following is not emphasized in a production possibility curve

  • A. scarcity of resources
  • B. economic development
  • C. inefficiency in the use of resources
  • D. unemployment of labour
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3

the organisation of productive factors is the reponsibility of the?

  • A. management
  • B. entrepreneur
  • C. production manager
  • D. labour union
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WAEC offline past questions - with all answers and explanations in one app - Download for free
WAEC Past Questions, Objective & Theory, Study 100% offline, Download app now - 24709
4

producers operating in a free market economy are more efficient as a resulf of?

  • A. the existence of competition
  • B. the very few number of participants
  • C. the commitment of the shareholders
  • D. government regulation of their activities
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5

a downward sloping demand curve means that?

  • A. total revenue declines as price is lowered
  • B. demand falls as output rises
  • C. demand falls as output falls
  • D. price must be lowered to sell more
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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
WAEC offline past questions - with all answers and explanations in one app - Download for free
Download WAEC May/June App - Get all past questions and answers, 100% offline - 43208