Waec Economics Past Questions and Answers

Question 186:

• WAEC 1991

Describe the factors that can affect the size of a country's population.

Question 187:

• WAEC 1992

Economics is a social science because it

A. Deals with an aspect of hman behaviour
B. Provides people with commodity they want
C. Deals with limited resources which have alternative uses
D. Deals with the production of goods for present and future consumption
E. Is related to how choice is made

Question 188:

• WAEC 1992

Economics is a social science because it

A. Deals with an aspect of hman behaviour
B. Provides people with commodity they want
C. Deals with limited resources which have alternative uses
D. Deals with the production of goods for present and future consumption
E. Is related to how choice is made

Question 189:

• WAEC 1992

Scarcity in Economics generally refers to

A. A period of production
B. Hoarding of goods
C. Monopolization of existing supply of resources
D. Period of famine
E. Resources being limited

Question 190:

• WAEC 1992

Opportunity cost is define as the

A. Money cost
B. Cost of production
C. Real cost
D. Variable cost
E. Fixed cost