Waec Economics Past Questions For Year 1989
Question 1
The greatest disadvantages f barter system is the need for
- A. Durability
- B. Divisibility
- C. Homogeneity
- D. Double coincidence of wants
- E. Portability
Question 2
A table which shows the price of a commodity and the quantity of it that is demanded per unit time is a
- A. Time series
- B. Demand series
- C. Demand curve
- D. Demand schedule
- E. Time schedule
Question 3
Scarcity in Economics means that resources
- A. Are not enough to share among producers of goods and services
- B. Needed to satisfy human wants are limited
- C. Are never enough to share among consumers of goods and services
- D. Required to meet our essential wants are unlimited
- E. Can be managed if those who use them can behave rationally
Question 4
Data presented in table are usually arranged in
- A. charts and tables
- B. rows and columns
- C. graphs and rows
- D. pictograms and columns
- E. maps and pie charts
Question 5
all the following are source of finance to a Joint Stock Company except
- A. bank loans
- B. equity shares
- C. debentures
- D. preference shares
- E. cooperative thrift
