Waec Economics Past Questions and Answers

Question 51:

• WAEC 1989

The greatest disadvantages f barter system is the need for

A. Durability
B. Divisibility
C. Homogeneity
D. Double coincidence of wants
E. Portability

Question 52:

• WAEC 1989

An inflation in which the price rises steadily at an average rate of about 2% per annum is best described ad

A. Galloping
B. Induced
C. Creeping
D. Suppressed
E. Run-away

Question 53:

• WAEC 1989

In Economics market is define as

A. A place where buyers and sellers come together to exchange goods
B. Any agreement made for consumers to buy all they need
C. Any arrangement made for producers to sell all their goods
D. Any arrangement where by buyers and sellers are in close touch with one another
E. A place where only consumer goods are sold

Question 54:

• WAEC 1989

money supply at any given point in time refers to as

A. Bank notes, coins abd demand deposits
B. Notes and coins only
C. Minted money
D. Hoarded money
E. Money received as gifts

Question 55:

• WAEC 1989

all the following are source of finance to a Joint Stock Company except

A. Bank loans
B. Equity shares
C. Debentures
D. Preference shares
E. Cooperative thrift