Waec Economics 2013 Past Questions and Answers

Question 1:

• WAEC 2013

The action of government to forgo road construction in order to provide more health facilities denotes

A. Sound economic decision
B. Opportunity cost
C. Practicable government policy
D. Scale of preference

Question 2:

• WAEC 2013

The action of government to forgo road construction in order to provide more health facilities denotes

A. Sound economic decision
B. Opportunity cost
C. Practicable government policy
D. Scale of preference

Question 3:

• WAEC 2013

In Economics , a market is defined as any

A. Agreement made for consumers to buy all they need
B. Ngement made for producers sell all their goods
C. Agreement to sell commodities at low prices
D. Arrangement whereby the buyers and sellers are in contact

Question 4:

• WAEC 2013

Which of the following is not a function of an insurance company?

A. Pooling resources together against risks
B. Mobilization of funds through premiums collected
C. Encouragement of investment by security of capital
D. Collection of deposits from the public for investment

Question 5:

• WAEC 2013

A debenture holder earns

A. Commission
B. Profits
C. Fixed interest
D. Quasi-rent