Waec Economics Past Questions and Answers

Question 1631:

• WAEC 2018

A baker bought flour and other ingredients for $250.00, spent $52.00 on distribution, sold the bread for $320.00. the value added by the baker is?

A. $302.00
B. $52.00
C. $18.00
D. $622.00

Question 1632:

• WAEC 2018

in a country with large population of full-time housewives, national income

A. Will be composed of goods produced by women
B. Figures will be grossly over-stated
C. Statistics will be difficult to calculate
D. Figures will be grossly under-stated

Question 1633:

• WAEC 2018

demand pull inflation is likely to be caused by?

A. An increase in the cost of factors inputs
B. Increase in the income tax rate
C. Increase in bank lending rates
D. Increasingly large budget deficit

Question 1634:

• WAEC 2018

Holding money to take care of contigencies is?

A. A speculative motive
B. A transaction motive
C. A precautionary motive
D. An expansionary motive

Question 1635:

• WAEC 2018

if a housewife has meat and tomatoes, she must find someone who wants meat and has tomatoes to give. this concept is described as?

A. Opportunity cost
B. Scale of preference
C. Complementary demand
D. Double of coincidence of wants