Waec Economics Past Questions For Year 2008
Question 1
Data presented in tables are usually arranged in
- A. charts and graphs
- B. rows and columns
- C. graph and rows
- D. columns and charts
Question 2
Production covers all the following except when
- A. utility is created
- B. a good is manufactured
- C. a commodity is consumed
- D. individual wants are satisfied
Question 3
Productive resources can also be called
- A. principle of production
- B. factors of production
- C. items of production
- D. labour and material resources
Question 4
The main concern of economists is to
- A. allocate scarce resouces to satisfy human wants
- B. satisfy all human wants
- C. redistribute income between the rich and the poor
- D. control the growth of population
Question 5
A major function of the price mechanism is that it determines the
- A. allocation of resources
- B. amount of national savings
- C. population of the country
- D. number of goods to be taxed
