by Sunday | Mar 26 | Economics WAEC
A. government department B. price mechanisms C. trade union D. state planning committee. Correct Answer: Option B – price mechanisms Explanation In a free market economy, the allocation of resources and distribution of goods and services are made on the basis of...
by Sunday | Mar 26 | Economics WAEC
A. application of human effort B. acts of nature C. application of fertilizer D. use of machines Correct Answer: Option A – application of human effort
by Sunday | Mar 26 | Economics WAEC
A. growth B. over-production C. inefficient use of resources D. under-production Correct Answer: Option A = growth Explanation When the curve shifts outward, or to the right, that means output is increasing.
by Sunday | Mar 26 | Economics WAEC
A. resources B. wants C. scarcity D. capital Correct Answer: Option C = scarcity Explanation Scarcity is one of the most important components of the definition of economics. It signifies the gap between limited resources and limitless...
by Sunday | Oct 30 | Economics WAEC
A. female population higher than the male B. female and male population equal C. male population higher than the female D. growth in population more sustainable Correct Answer: Option D – growth in population more...
by Sunday | Aug 9 | Economics WAEC
A. Mainly for the need of our immediate and extended family B. Crops for sale mainly C. Crops mainly for export D. To feed the community around E. In order to satisfy the government directives Correct Answer: Option A – Mainly for the need of our immediate and...
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