WAEC: ECONOMICS
Quizzes
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2021 Economics WAEC Objective Past Questions
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2021 Economics WAEC Theory Past Questions
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2020 Economics WAEC Objective Past Questions
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2020 Economics WAEC Theory Past Questions
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2019 Economics WAEC Objective Past Questions
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2019 Economics WAEC Theory Past Questions
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2018 Economics WAEC Objective Past Questions
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2018 Economics WAEC Theory Past Questions
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2017 Economics WAEC Objective Past Questions
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2017 Economics WAEC Theory Past Questions
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2016 Economics WAEC Objective Past Questions
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2016 Economics WAEC Theory Past Questions
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2015 Economics WAEC Objective Past Questions
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2015 Economics WAEC Theory Past Questions
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2014 Economics WAEC Objective Past Questions
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2014 Economics WAEC Theory Past Questions
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Question 1 of 50
1. Question
Economic problem arise in all society because?
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Question 2 of 50
2. Question
Which of the following is not emphasized in a production possibility curve?
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Question 3 of 50
3. Question
The organisation of productive factors is the responsibility of the
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Question 4 of 50
4. Question
Producers operating in a free market economy are more efficient as a result of
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Question 5 of 50
5. Question
In a pie chart, the population of a city is represented by a sector 450. If the country has a population of 10million people, then the city’s population is
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Question 6 of 50
6. Question
A downward sloping demand curve means that
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Question 7 of 50
7. Question
If the price of commodity X rises and consumers shift to commodity Y, then commodity X and Y are?
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Question 8 of 50
8. Question
Goods whose demand vary directly with money income are called?
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Question 9 of 50
9. Question
An exceptional demand curve can result from?
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Question 10 of 50
10. Question
Palm oil and palm kernel are in
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Question 11 of 50
11. Question
Which of the following is true about supply of land? It
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Question 12 of 50
12. Question
The backward bending supply curve of labour indicatesÂ
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Question 13 of 50
13. Question
A supply curve parallel to the X- axis indicates?
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Question 14 of 50
14. Question
If the marginal utility of a commodity is equal to its price then
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Question 15 of 50
15. Question
A price floor is usually fixed
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Question 16 of 50
16. Question
A market is in equilibrium when?
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Question 17 of 50
17. Question
A firm average cost decreases in the long-run because of
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Question 18 of 50
18. Question
The larger a firm, the lower its cost of production. This statement explains that the
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Question 19 of 50
19. Question
Quantity Total Cost 0 20 1 25 2 28 3 30 4 38 5 55 6 92 7 135 Use the table to answer the following question
The total fixed cost is?
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Question 20 of 50
20. Question
Quantity Total Cost 0 20 1 25 2 28 3 30 4 38 5 55 6 92 7 135 Use the table to answer the following question
At output level 5, the total variable cost is?
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Question 21 of 50
21. Question
In the long run, a firm must shut down if its average revenue is
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Question 22 of 50
22. Question
Public limited liability companies are democratic in nature because?
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Question 23 of 50
23. Question
In the event of bankruptcy owners of joint-stock companies lose
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Question 24 of 50
24. Question
Wholesalers play an important role in the distribution of goods and services because they
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Question 25 of 50
25. Question
If workers at the school canteen sell during the holidays, this is an example of
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Question 26 of 50
26. Question
Positive checks as envisaged by Thomas Malthus can be prevented if
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Question 27 of 50
27. Question
Which of the following factors is not a reason for farmer’s unstable incomes
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Question 28 of 50
28. Question
Local firms can help in reducing unemployment in a country when?
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Question 29 of 50
29. Question
An industry is described as a group of firms
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Question 30 of 50
30. Question
The largest component of national income in developing countries consists of?
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Question 31 of 50
31. Question
A baker bought flour and other ingredients for $250.00, spent $52.00 on distribution, sold the bread for $320.00. the value added by the baker is?
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Question 32 of 50
32. Question
In a country with large population of full-time housewives, national income
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Question 33 of 50
33. Question
Demand-pull inflation is likely to be caused by?
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Question 34 of 50
34. Question
Holding money to take care of contingencies is
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Question 35 of 50
35. Question
If a housewife has meat and tomatoes, she must find someone who wants meat and has tomatoes to give. this concept is described as?
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Question 36 of 50
36. Question
The stock exchange is an example of the
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Question 37 of 50
37. Question
What happens when the central bank increases bank rate in an economy
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Question 38 of 50
38. Question
Income is redistributed when the rich are progressively taxed and
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Question 39 of 50
39. Question
In order to increase revenue, the government should tax commodities for which demand is?
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Question 40 of 50
40. Question
Which of the following activities will not lead to economic growth?
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Question 41 of 50
41. Question
The poorer the country, the larger the percentage of the labour force engaged in
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Question 42 of 50
42. Question
Which of the following measure can be adopted to stabilize the external value of the local currency?
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Question 43 of 50
43. Question
Which of the following is not a measure for reducing the balance of payments deficits?
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Question 44 of 50
44. Question
Nations engage in international trade because of difference in?
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Question 45 of 50
45. Question
One advantage of international trade is that
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Question 46 of 50
46. Question
Which of the following forms of economic integration is a member nation free to impose duty against non-members?
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Question 47 of 50
47. Question
The International Bank for reconstruction and development (IBRD) performs the following functions except?
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Question 48 of 50
48. Question
An electrical engineer who is teaching physics in a secondary school is said to be
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Question 49 of 50
49. Question
one benefit a country can derive from the extraction of crude oil is increase in?
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Question 50 of 50
50. Question
Which of the following cannot be classified as a natural resource
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