Waec Economics 2002 Past Questions and Answers

Question 1:

• WAEC 2002

Economics is best described as the study of

A. The wealth of nations
B. How man consume his products
C. How man provides for his everyday needs
D. The distribution of wealth

Question 2:

• WAEC 2002

Economics is best described as the study of

A. The wealth of nations
B. How man consume his products
C. How man provides for his everyday needs
D. The distribution of wealth

Question 3:

• WAEC 2002

The most frequent occurring value in a given data is the

A. Mode
B. Median
C. Mean
D. Range

Question 4:

• WAEC 2002

Subsistence production means that goods and services are

A. Produced for consumption only
B. Sold to others
C. Sold in the country
D. Produced for the market

Question 5:

• WAEC 2002

Warehouse facilities in the distribution and marketing of products are provided by

A. Manufacturer
B. Wholesaler
C. Retailer
D. Advertisers