Waec Economics Past Questions and Answers

Question 1661:

• WAEC 2019

'Economics is a science which studies human behaviours as a relationship between ends and scarce means which have alternative uses. 'Ends' her refers to

A. Resource
B. Wants
C. Choice
D. Output
E. Factors

Question 1662:

• WAEC 2019

A review of occupational distribution of population from time to time helps us to know the

A. Rate of which the population grows
B. Number of people that makes up the labour force
C. Efficiency of the working population
D. Industries which are becoming less important
E. Number of people that are bot employed

Question 1663:

• WAEC 2019

The price of a commodity is determined by the

A. Supplier
B. Consumer
C. Quantity of goods demanded
D. Quantity of goods supplied
E. Interaction of demand and supply

Question 1664:

• WAEC 2019

The equilibrium position of a firm is attained

A. When MC = AR
B. When MC = PC
C. When MC = MR
D. When AC = AR
E. When AR = MR

Question 1665:

• WAEC 2019

in any economic system , which of the following is not an economic problem?

A. What goods and services to produce
B. For whom to produce goods or services
C. What techniques of production to be adopted
D. Equal distribution of goods and services
E. How to ensure that the economy grow over time