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Economics WAEC Past Questions

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1326

which of the following can be described as land

  • A. forest
  • B. diamond
  • C. roads
  • D. crude oil
View Answer & Discuss (4) WAEC 2015
1327

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
1328

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
View Answer & Discuss WAEC 2015
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1329

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
View Answer & Discuss WAEC 2015
1330

which of the following is not an effect of many middlemen in the chain of production

  • A. shortage of commodities
  • B. low retail prices
  • C. hoarding of goods
  • D. high retail prices
View Answer & Discuss WAEC 2015
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