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Economics WAEC Past Questions

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Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts
701
Farming, mining and fishing are
  • A. primary production
  • B. secondary production
  • C. tertiary production
  • D. intermediate production
View Answer & Discuss WAEC 2005
702
A list of consumer's wants arranged in order of priorities is known as
  • A. a budget
  • B. an opprotuniy cost
  • C. A scale of preference
  • D. choice
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703
The 150.00 Naira which Olu would have used to purchase a textbook was used to buy a T-shirt . This implies that
  • A. Olu's real cost is 150.00 Naira
  • B. Olu's opprtunity cost is the T-shirt he bought
  • C. Olu's opportunity cost is the textbook
  • D. Olu's money cost is also the real cost
View Answer & Discuss WAEC 2005
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704
The remuneration of the entrepreneur as a factor of production is called
  • A. wages
  • B. salary
  • C. interest
  • D. profit
View Answer & Discuss (1) WAEC 2005
705
The production factor, whose entire world supply is fixed is
  • A. land
  • B. skilled labour
  • C. capital goods
  • D. entrepreneur
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Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts