Waec Economics 1999 Past Questions and Answers

Question 6:

• WAEC 1999

The system whereby goods are exchanged for goods is known as

A. Stock exchange
B. Barter system
C. Banking
D. Co-operative system

Question 7:

• WAEC 1999

The graph of the function X = a + bY is

A. Linear
B. Quadratic
C. Cubical
D. Exponential

Question 8:

• WAEC 1999

Productivity , per worker, is best measured by

A. Total output less number of workers
B. Total output multiplied by number of workers
C. Number of workers less total output
D. Total output didvided by number of workers

Question 9:

• WAEC 1999

In determining cost economics considers

A. Implicit cost only
B. Explicit cost only
C. Implicit and explicit costs
D. Explicit cost less implicit

Question 10:

• WAEC 1999

The precautionary motive for holding money is to enable the holder to

A. Buy stocks when interest are high
B. Overcome unforseesn contigencies
C. Buy goods and services on daily basis
D. Buy fixed assets