Economics 2009 Waec Past Questions and Answers

Question 1 :

• WAEC 2009

» the study of economics becomes necessary because of the

A. Large population size of the world
B. Scarcity of resources
C. Opportunity cost of goods and services
D. Needs to satisfy every desire of man

Question 2 :

• WAEC 2009

» the study of economics becomes necessary because of the

A. Large population size of the world
B. Scarcity of resources
C. Opportunity cost of goods and services
D. Needs to satisfy every desire of man

Question 3 :

• WAEC 2009

The concept of opportunity cost is also referred to as

A. Social cost
B. Real cost
C. Fixed cost
D. Variable cost

Question 4 :

• WAEC 2009

choice is necessitated by

A. Demand and supply
B. Cost of production
C. Production possibility curve
D. Scarcity of resources

Question 5 :

• WAEC 2009

A type of unemployment which occurs due to technological progress is called

A. Frictional unemployment
B. Residual unemployment
C. Structural unemployment
D. Mass unemployment