Waec Economics 2015 Past Questions and Answers

Question 1:

• WAEC 2015

Economics is regarded as a science because it?

A. Studies laws that govern human behaviour
B. Uses scientific method to explain human behaviour
C. Makes use of controlled experiments to explain human behaviour
D. Makes use of machines to study human behaviour

Question 2:

• WAEC 2015

Economics is regarded as a science because it?

A. Studies laws that govern human behaviour
B. Uses scientific method to explain human behaviour
C. Makes use of controlled experiments to explain human behaviour
D. Makes use of machines to study human behaviour

Question 3:

• WAEC 2015

which of the following can be described as land

A. Forest
B. Diamond
C. Roads
D. Crude oil

Question 4:

• WAEC 2015

An outward shift of the production possibility curve shows that?

A. Production is shifting to the left
B. Resources are under-utilized
C. Economic growth has taken place
D. Factors of production are moving outward

Question 5:

• WAEC 2015

The following constitute the criteria for identifying an economic system except?

A. Ownership of resources
B. Scarcity of resources
C. Method of decision making
D. Motivation for production