Waec Economics 2017 Past Questions and Answers

Question 1:

• WAEC 2017

Economics is regarded as a science because?

A. Its issues can be easily verified by reference to facts
B. It adopts scientific methods in making its analysis
C. Its issues are relevant for national development
D. Its subject matter studies human behaviour

Question 2:

• WAEC 2017

Economics is regarded as a science because?

A. Its issues can be easily verified by reference to facts
B. It adopts scientific methods in making its analysis
C. Its issues are relevant for national development
D. Its subject matter studies human behaviour

Question 3:

• WAEC 2017

the opportunity cost of a worker going to the university is

A. Tuition, fees and books
B. Boarding and lodging
C. The wages given up to attend the university
D. Transportation and entertainment

Question 4:

• WAEC 2017

which of the following items is not an example of circulating capital

A. Raw material
B. Money
C. Fuel
D. Machinery

Question 5:

• WAEC 2017

in a market economy, the problem of what goods to produced is solved primarily by

A. Directives of the government
B. The pattern of consumers spending
C. Producers of consumer goods
D. People producing what they want