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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
1966

National income is calculated mainly to

  • A. determine how income is to shared
  • B. help firms generate more funds
  • C. determine aid to to be received from other nations
  • D. determine the level of sectoral performance
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1967

Assisting members to solve temporary balance of payments problems is the reasons for the establishment of the

  • A. International Monetary Fund
  • B. Economic Commission for Africa
  • C. World Bank
  • D. African Development Bank
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1968

Money is able to function more as a medium of exchange when

  • A. there is a fall in production
  • B. more prople engage in subsistence production
  • C. individuals and nations are self-sufficient
  • D. there is specialization of labour
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1969

An economy system is mainly concerned with

  • A. studying the relationship between ends and means
  • B. the allocation of scarce resources between alternative ends
  • C. handling situations of abudant resources
  • D. the establishment of economic laws
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1970

When the marginal utility from the consumption of commodity X (Mux) is greater than the price commodity X (Px), a rational consumer should

  • A. strive to remain in disequilibrium
  • B. consume the same quantity of commodity X
  • C. consume more of commodity X
  • D. reduce consumption of commodity X
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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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