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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
1971

Which of the following items is not classified as working capital?

  • A. Fuel
  • B. Money to pay wages
  • C. Semi-finished goods
  • D. Equipment
View Answer & Discuss (1) WAEC 2023
1972

If the demand for a commodity remains constant as price increases, the commodity is said to be

  • A. perfectly price inelastic
  • B. unit price elastic
  • C. price elastic
  • D. price inelastic
View Answer & Discuss (4) WAEC 2023
1973

Warehousing is an economic activity that falls under

  • A. secondary production
  • B. primary production
  • C. tertiary production
  • D. intermediate production
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1974

The study of economics is mainly concerned with how to

  • A. rank individuals' wants given the abundant resources
  • B. make choice when resources are inadequate
  • C. satisfy every member of all societies
  • D. produce all the goods needed by everyone
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1975

Use the graph above to answer the question
The curve labelled W shows the

  • A. regressive tax
  • B. proportional tax
  • C. specific tax
  • D. progressive tax
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