Waec Economics Past Questions and Answers

Question 156:

• WAEC 1991

Which of the following functions do retailers perform in an economy?

A. Production
B. Exchange
C. Hoarding
D. Distribution
E. Investment

Question 157:

• WAEC 1991

A movement along the demand curve for some goods may be caused by a change in

A. Consumer income
B. The price of goods
C. Consumers taste
D. The price of other goods
E. Population

Question 158:

• WAEC 1991

which of the following item is not included in measuring national income by the income approach?

A. Wages and salaries of public servants
B. Student's grants and scholarships
C. Profits of companies
D. Income earned by self-employed persons such as lawyers
E. Rents on property

Question 159:

• WAEC 1991

if an economy is growing at an annual rate of 7% and 4% of it is known to be due to the improvement in labour ans capital combined, the balance of 3% is usually attributed to

A. Land and enterprenuer
B. Abundance of natural resources
C. Level of human capital
D. Technical progress and related factors
E. Discipline in political leadership

Question 160:

• WAEC 1991

A government treasury bill is a form of debt instrument which falls due for repayment after

A. 3 months
B. 9 months
C. 2 years
D. 5 years
E. 10 or more years