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Economics 2020 WAEC Past Questions

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1

Which of the following is central to the definition of Economics?

  • A. resources
  • B. wants
  • C. scarcity
  • D. capital
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2

When the production possibility curve shifts outwards, the economy experiences

  • A. growth
  • B. over-production
  • C. inefficient use of resources
  • D. under-production
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3

Land as a factor of production is made useful through the 

  • A. application of human effort
  • B. acts of nature
  • C. application of fertilizer
  • D. use of machines
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Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts
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NECO offline past questions - All questions, answers & explanations in one app 25712
4

In a free market economy, resources are allocated through the 

  • A. government department
  • B. price mechanisms
  • C. trade union
  • D. state planning committee.
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5

Use the figure below to answer question that follows

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What does the diagram above depict

  • A. simple bar chart
  • B. complex bar chart
  • C. component bar chart
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Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts
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