Waec Economics Past Questions and Answers

Question 1376:

• WAEC 2013

(a) Distinguish between cash ratio and special deposits.
(b) Explain how cash ratio and special deposits are used as instruments of monetary policy.
(c) Describe any two instruments of fiscal policy in West Africa.

Question 1377:

• WAEC 2014

Human want are unlimited because

A. Production is inadequate
B. Resources have alternative uses
C. New wants always rise
D. Resources are limited

Question 1378:

• WAEC 2014

Human want are unlimited because

A. Production is inadequate
B. Resources have alternative uses
C. New wants always rise
D. Resources are limited

Question 1379:

• WAEC 2014

A basic economic problem of any society is

A. High level of illiteracy
B. Irregular power supply
C. Population growth
D. Resource allocation

Question 1380:

• WAEC 2014

In a centrally planned economy, what to produce is

A. Determined by the forces of demand and spply
B. Driven by profit motive
C. Determined by consumers
D. The responsibility of state's bureaucrats