Waec Economics Past Questions and Answers

Question 46:

• WAEC 1988

The bulk of West African foreign trade is directed away from Africa to Europe and America. What are the reasons for this?

Question 47:

• WAEC 1988

Discuss the important role played by agriculture in the economy of your country.

Question 48:

• WAEC 1989

Scarcity in Economics means that resources

A. Are not enough to share among producers of goods and services
B. Needed to satisfy human wants are limited
C. Are never enough to share among consumers of goods and services
D. Required to meet our essential wants are unlimited
E. Can be managed if those who use them can behave rationally

Question 49:

• WAEC 1989

Scarcity in Economics means that resources

A. Are not enough to share among producers of goods and services
B. Needed to satisfy human wants are limited
C. Are never enough to share among consumers of goods and services
D. Required to meet our essential wants are unlimited
E. Can be managed if those who use them can behave rationally

Question 50:

• WAEC 1989

A table which shows the price of a commodity and the quantity of it that is demanded per unit time is a

A. Time series
B. Demand series
C. Demand curve
D. Demand schedule
E. Time schedule