Waec Economics 2006 Past Questions and Answers

Question 1:

• WAEC 2006

The study of economics enables the individuals to

A. Change jobs
B. Evades taxes
C. Accumulate huge wealth
D. Make rational decisions

Question 2:

• WAEC 2006

The study of economics enables the individuals to

A. Change jobs
B. Evades taxes
C. Accumulate huge wealth
D. Make rational decisions

Question 3:

• WAEC 2006

Most of the problems of economics arises as a result of

A. Competing demand for scarce resources
B. Increase in the demand for more goods and services
C. The desire of producers to supply more goods and services
D. The need to reduce the level of poverty

Question 4:

• WAEC 2006

which of the following tool of economic analysis is used when data contains more than one category?

A. Bar charts
B. Component bar charts
C. Graphs
D. Symbolical sratement

Question 5:

• WAEC 2006

The reward to capital as a factor of production is

A. Rent
B. Wage
C. Interest
D. Commission