Waec Economics 1999 Past Questions and Answers

Question 1:

• WAEC 1999

The money payment made to owners of land and labour are

A. Rent and wages
B. Interst and profits
C. Wages and interest
D. Didvidends and salary
E. Tax

Question 2:

• WAEC 1999

The money payment made to owners of land and labour are

A. Rent and wages
B. Interst and profits
C. Wages and interest
D. Didvidends and salary
E. Tax

Question 3:

• WAEC 1999

The price elasticity of coefficient indicates

A. How far business can reduce cost
B. The degree of competition
C. The extent to which curve shifts
D. Consumer responsiveness to price changes
E. None of the above

Question 4:

• WAEC 1999

every society strive to pursue all the following economic objectives except

A. Increase production
B. Price stability
C. An inequitable distribution of income
D. Sustainable growth and income

Question 5:

• WAEC 1999

which of the following best describes capital as a factor of production?

A. A natural resources found everywhere
B. A stock of physical assets used for production
C. The organization of human and material resources for production
D. Resources used in training labour