Economics 2020 Waec Past Questions and Answers

Question 6 :

• WAEC 2020

Which of the following problem has the least effect on agricultural productivity in West Africa?

A. Incidence of pests and diseases
B. Unfavourable weather conditions
C. Urban-rural migration
D. Illiteracy

Question 7 :

• WAEC 2020

Which of the following is central to the definition of Economics?

A. Resources
B. Wants
C. Scarcity
D. Capital

Question 8 :

• WAEC 2020

When the production possibility curve shifts outwards, the economy experiences

A. Growth
B. Over-production
C. Inefficient use of resources
D. Under-production

Question 9 :

• WAEC 2020

Land as a factor of production is made useful through the ____________

A. Application of human effort
B. Acts of nature
C. Application of fertilizer
D. Use of machines

Question 10 :

• WAEC 2020

In a free market economy, resources are allocated through the ____________

A. Government department
B. Price mechanisms
C. Trade union
D. State planning committee.