Waec Economics Past Questions For Year 2022
Question 1
Which of the following factors is not a cause of change in demand? Changes in
- A. the size of the population
- B. price of the commodity
- C. income distribution
- D. taste and fashion
Question 2
Foreign investment and long term securities in the balance of payment accounts are recorded as
- A. current account transaction
- B. capital account transaction
- C. balance of trade account transaction
- D. invisible balance account transaction
Question 3
The production of rice and yam on the same farmland is an example of
- A. joint supply
- B. composite supply
- C. competitive supply
- D. market supply
Question 4
A benefit that is present in all forms of economic integration is that
- A. common agricultural policy is in place
- B. the size of the market is widened
- C. factors of production are free to move and be moved
- D. common currency is in use
Question 5
The use of mass advertising media enable a firm to enjoy
- A. managerial economies
- B. financial economies
- C. marketing economies
- D. welfare economies
