Waec Economics Past Questions and Answers

Question 1791:

• WAEC 2020

Which function of the wholesaler enables him to stabilize prices?

A. Warehousing goods
B. Advertising the goods
C. Granting credit to retailers
D. Transporting goods

Question 1792:

• WAEC 2020

In the long run, as individuals receive higher wages, it causes ____________

A. Demand for food to decrease
B. Demand for leisure to decrease
C. Supply of normal goods to decrease
D. Supply of labour to decrease

Question 1793:

• WAEC 2020

Labor productivity is defined as ____________

A. Output per man-hour
B. Average Output
C. The maximum number of hours Worked
D. Total output of labour

Question 1794:

• WAEC 2020

Which of the following problem has the least effect on agricultural productivity in West Africa?

A. Incidence of pests and diseases
B. Unfavourable weather conditions
C. Urban-rural migration
D. Illiteracy

Question 1795:

• WAEC 2020

Which of the following is central to the definition of Economics?

A. Resources
B. Wants
C. Scarcity
D. Capital