Waec Economics Past Questions and Answers

Question 201:

• WAEC 1992

Money as a unit of account implies that it can be

A. Counted in units
B. Use to facilitate exchange
C. Used to measure the value of goods and services
D. Used to store goods and services
E. Used for future payment

Question 202:

• WAEC 1992

which of the following does not increase the population of country

A. An increase in birth rate
B. A decrease in death rate
C. Emigration
D. Immigration
E. Early marriage

Question 203:

• WAEC 1992

A stockholder partakes of the profit of a l8imited liability business by receiving

A. Shares
B. Profit
C. Wages and salaries
D. Dividends
E. Gifts

Question 204:

• WAEC 1992

Near Money is made up of

A. Very liquid asset which can be easily converted into money
B. Currency in circulation and demand deposit
C. Note and coins
D. Fixed assets which cannot be converted into money
E. The total money supplied in the economy

Question 205:

• WAEC 1992

Which of the following is not characteristics of a perfect competition ?

A. Many sellers and buyers are in the market
B. There is perfect knowledge of the market situation
C. Supply and demand are equal
D. There is no discrimination
E. Products are identical