Waec Economics 2018 Past Questions and Answers

Question 1:

• WAEC 2018

Economic problem arise in all society because?

A. Resources are mismanaged by leaders
B. There is no proper planning
C. Resources are not in adequate supply
D. The services of economist are not employed

Question 2:

• WAEC 2018

Economic problem arise in all society because?

A. Resources are mismanaged by leaders
B. There is no proper planning
C. Resources are not in adequate supply
D. The services of economist are not employed

Question 3:

• WAEC 2018

which of the following is not emphasized in a production possibility curve

A. Scarcity of resources
B. Economic development
C. Inefficiency in the use of resources
D. Unemployment of labour

Question 4:

• WAEC 2018

the organisation of productive factors is the reponsibility of the?

A. Management
B. Entrepreneur
C. Production manager
D. Labour union

Question 5:

• WAEC 2018

producers operating in a free market economy are more efficient as a resulf of?

A. The existence of competition
B. The very few number of participants
C. The commitment of the shareholders
D. Government regulation of their activities