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Economics WAEC Past Questions

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1986

When the demand for a commodity increases while supply remains unchanged, the equilibrium price and quantity will

  • A. increase
  • B. remain constant
  • C. decrease
  • D. turn negative
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1987

Consumers have access to a variety of goods through the activities of the

  • A. retailers
  • B. advertising agencies
  • C. mass media
  • D. wholesalers
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1988

The malthusian theory of population is best illustrated when

  • A. the size of the population and available resources are equal
  • B. both population and food supply increase at the same rate
  • C. food supply increases much faster than population growth
  • D. population increases much faster than food supply
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1989

The Net National Product (NNP) of a country is $50m while the depreciation allowance is $10m. The Gross National Product (GNP) is

  • A. $40m
  • B. $60m
  • C. $30m
  • D. $500m
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1990

The rate of growth of population is

  • A. initial population plus number of births and net migration
  • B. the difference between birth rate and death rate
  • C. birth rate less death rate plus net migration
  • D. the number of immigrants plus number of births
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