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Waec Economics 2007 Past Questions and Answers

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Waec 2007 Economics Past Questions

Question 1:


The three principal economic unit in any system are

A. Trade, industry and banking
B. Workers, consumers and shareholders
C. Households, firms and governments
D. Comapnies, industry and plants


Question 2:


The three principal economic unit in any system are

A. Trade, industry and banking
B. Workers, consumers and shareholders
C. Households, firms and governments
D. Comapnies, industry and plants


Question 3:


The satisfaction derived from the use of a commodity is its

A. Demand
B. Elasticity
C. Wealth
D. Utility


Question 4:


The reward which accrues to labour for participating in production is

A. Interest
B. Wage
C. Bonus
D. Profit


Question 5:


The Malthusian theory of population does not concern itself with

A. Growth of food production in arithmetical progression
B. Growth of population in geometric progression
C. Positive check to population growth
D. Development and growth of manpower






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