Economics Past WAEC Questions is one of the most important subjects. Due to the complicated nature of the examination, many people are unable to do well in the examination. If you are one of the students in this category, then you do not need to bother about it anymore because we have the solution to that problem, and the solution is in having Past Questions.
However, you need to understand that before going for any examination, maximum preparation is required to get the necessary success. therefore, we bring you information on econmic waec Past Questions, what it is all about, how it is patterned to suit your demand, and the easiest way to download or get it.
The Benefit of Having Economics Past WAEC Questions
It will expose you to the questions that have been asked years back as most of those questions and answers get repeated every year while some will just be rephrased. So if you don’t have a copy of this past question, then you are losing out. It also provides useful information about the types of questions to expect. You will find out the number of questions you will see in the examination. Economics Past WAEC Questions
Past Questions is the compilation of all the questions that was given to candidates to answer over the years and it is offered in pdf format. We have made it very simple such that every student can get it with their smartphone.
How is JAMB Past Questions Patterned?
We have made it simple for you. we bring all the questions which is usually in objective format since it is now in CBT. We have put them together but we indicate the specific years for every question and the correct answers in order to save your time. All you need to do is to devote quality time to study the Past Questions
Sample questions from Economics Past WAEC Questions
Question 1
If X represents the factors of production and Y represent the factor price, which of the following sets of association iscorrect?
Options
A) (land, rent) (capital, wage), (labour, profit)
B) (land, interest) (capital,profit), (labour, wage)
C) (land, wage), (capital, interest), (labour, rent)
D) (land,rent), (capital, interest), (labour, wage)
Question 2
If the cost of production for a firm continues to increase as it output rises, the firm is said to be experiencing?
Options
A) large-scale production
B) profit maximization
C) economies of scale
D) diseconomies of scale
Question 3
Given perfect competition in the capital market, the opportunity cost of capital is adequately reflected by the?
Options
A) interest rate
B) returns on capital
C) alternative capital foregone
D) shadow price of foreign exchange
Question 4
If a 10k per kg, 1000kg of yam were purchased and at 5k per kg, 1,500kg were purchased, the resultant point elasticity of demand is?
Options
A) 0.33
B) 0.0001
C) 1
D) 10,000
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