Economics 2003 Waec Past Questions and Answers

Question 1 :

• WAEC 2003

Economic as a field of study is a

A. Pure science
B. Polititcal science
C. Social science
D. Physical science

Question 2 :

• WAEC 2003

Economic as a field of study is a

A. Pure science
B. Polititcal science
C. Social science
D. Physical science

Question 3 :

• WAEC 2003

The major agents of economics system are

A. Consumer, workers and producers
B. Markets, telecommunication and banks
C. Schools, hospitals and universisties
D. Indidviduals , firms and government

Question 4 :

• WAEC 2003

which of the following is not an advantage of tubular presentation of data?

A. Enables easy location of required figures
B. Makes for easy comaprison of figures
C. Occupy more space than mathematical equations
D. Showa wether the figures are increasing or decreasing

Question 5 :

• WAEC 2003

The problem of scarcity is reduced by

A. Controlling consumption of goods and services
B. Producing everything needed by the consumers
C. Ensuring efficient allocation of resources
D. Restricting consumer choice and tatste