Waec Economics 2013 Past Questions and Answers

Question 21:

• WAEC 2013

In the long term run factors of production are considered to be

A. At maximum
B. Fixed
C. Variable
D. Increasing

Question 22:

• WAEC 2013

Which of the following will enhance productivity in an economy?

A. The use of obsolete capital
B. Technological change
C. Expansion of land under cultivation
D. An increase in the labour force

Question 23:

• WAEC 2013

Post harvest losses in West African countries can be reduced if

A. The land tenure system could be reformed
B. More irrigation schemes could be provided
C. Better storage facilities could be provided
D. Erosion is controlled

Question 24:

• WAEC 2013

Which of the following best explains what to produce?

A. How much goods are to be produced
B. The combination of resources to be used
C. Which goods and services to be produced
D. How many wants are to be satisfied

Question 25:

• WAEC 2013

The demand for money is described as a

A. Competitive demand
B. Joint demand
C. Derived demand
D. Composite demand