Waec Economics 1990 Past Questions and Answers

Question 1:

• WAEC 1990

Economics can be best defined as the study of

A. How to spend the family income efficiently
B. How to find minimum cost of production
C. The interpretation of scarce resourceand date
D. How scarce resource can be used efficiently
E. Why resource are scarce

Question 2:

• WAEC 1990

Economics can be best defined as the study of

A. How to spend the family income efficiently
B. How to find minimum cost of production
C. The interpretation of scarce resourceand date
D. How scarce resource can be used efficiently
E. Why resource are scarce

Question 3:

• WAEC 1990

which of the following are resources for holding money instead of investing it? I Transaction motive II. Precautionary motive III. Speculative motive IV. Liquidity motive

A. I and II only
B. I and III only
C. I, II and III only
D. I, II and IV only
E. II, III and IV only

Question 4:

• WAEC 1990

it is general belief that inflation in West Africa is caused by all the factors listed below except

A. Excessive bank lending
B. Budget deficit
C. Rising incomes
D. Shortage supply
E. Decrease in money supply

Question 5:

• WAEC 1990

all the following are specific examples of indirect tax except

A. Purchases tax
B. Import duty
C. Export duty
D. Excise duty
E. Poll tax