Waec Economics Past Questions and Answers

Question 101:

• WAEC 1990

which of the following are resources for holding money instead of investing it? I Transaction motive II. Precautionary motive III. Speculative motive IV. Liquidity motive

A. I and II only
B. I and III only
C. I, II and III only
D. I, II and IV only
E. II, III and IV only

Question 102:

• WAEC 1990

it is general belief that inflation in West Africa is caused by all the factors listed below except

A. Excessive bank lending
B. Budget deficit
C. Rising incomes
D. Shortage supply
E. Decrease in money supply

Question 103:

• WAEC 1990

all the following are specific examples of indirect tax except

A. Purchases tax
B. Import duty
C. Export duty
D. Excise duty
E. Poll tax

Question 104:

• WAEC 1990

Demand in Economics is synonymous with

A. Needs
B. Wants of the consumer
C. All goods demanded in the market
D. Wants supported with ability to pay
E. All consumers goods

Question 105:

• WAEC 1990

All the following factors will cause a change in demand except

A. The consumer's income
B. The consumer's taste
C. A change in population size
D. A change in weather condition
E. The price of commodity