Waec Economics Past Questions and Answers

Question 1486:

• WAEC 2015

(a) What is balance of payment disequilibrium?
(b) Explain the two types of balance of payment disequilibrium.
(c) Highlight any four reasons most West African countries are experiencing balance of payment problem.

Question 1487:

• WAEC 2015

(a) What is deflation?
(b) Outline any three positive effects of deflation.
(c) Explain the ways by which inflation affects any three functions of money.

Question 1488:

• WAEC 2016

Human wants are insatiable because wants are

A. Limited while means are scarce
B. Unlimited and means are also unlimited
C. Limited and means are also limited
D. Unlimited while means are scarce

Question 1489:

• WAEC 2016

Human wants are insatiable because wants are

A. Limited while means are scarce
B. Unlimited and means are also unlimited
C. Limited and means are also limited
D. Unlimited while means are scarce

Question 1490:

• WAEC 2016

Scale of preference is important for the following reasons except in

A. Satisfying wants
B. Making rational
C. Making optinum allocation of resources
D. Using scarce resources efficiently