WAEC Economics Questions and Answers 2023/2024 Expo/Runs Objectives/Essay: PDF Download

Free WAEC Economics Questions and Answers 2023/2024 Objectives and Essay. Candidates searching online for Economics Expo/runs or Answers for WAEC SSCE Exams Paper 1 & 2 (Theory and Objectives) should make effective use of the  Likely Economics 2023 WAEC Questions and Answers and randomly repeated Exams questions.

All Candidates searching for Official correct Solutions to WAEC Economics Questions, for Paper 1 & 2 (OBJ & theory) have all the opportunities to gather the right information provided here in order to make a good grade in the ongoing Economics WAEC Exam.  All the verified Free Answers on WASSCE Economics Questions updates are given here on our website.

The West African Examination Council, WAEC Has provided all the necessary material to foster the welfare of the examination. latest Economics Questions and Answers for WAEC exams. The schedule for the Economics Exams is given at the WAEC TimeTable Read more on WAEC Questions and Answers for Economics objectives and essay today.

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WAEC Economics 2023 Objectives Questions and Answers PDF

The following are Past questions on Economics that may be repeated. Make sure you take note of the answers provided.

WAEC Economics Past Questions and Answers:

SECTION A (OBJECTIVE)

1. Economics is a science that studies human behaviors as a relationship between ends and scarce means which have alternative uses. ‘Ends’ her refers to

• A. output
• B. wants
• C. choice
• D. resource
• E. factors

CORRECT ANSWER: B (wants)

NOTE: Human beings are so much concerned about what they Want which may also be called Needs.

2. A review of the occupational distribution of the population from time to time helps us to know the

• A. industries which are becoming less important
• B. number of people that makes up the labor force
• C. efficiency of the working population
• D. rate of which the population grows
• E. number of people that are bot employed

CORRECT ANSWER: B (number of people that makes up the labor force)

NOTE: Labour Force is very essential when it has to do with the Population in a commercial environment.

3. The price of a commodity is determined by the

• A. quantity of goods supplied
• B. consumer
• C. quantity of goods demanded
• D. supplier
• E. interaction of demand and supply

CORRECT ANSWER: B (consumer)

4. The equilibrium position of a firm is attained

• A. when AC = AR
• B. when MC = PC
• C. when MC = MR
• D. when MC = AR
• E. when AR = MR

CORRECT ANSWER: C (when MC = MR)

5. One of the below-listed Methods is not appropriate in calculating national income figures?

• A. output method
• B. Depreciation method
• C. Expenditure method
• D. Value added method
• E. Income method

CORRECT ANSWER: B (Depreciation method)

6. One of the following does not affect Mobility of labour.

• A. the period of training
• B. marriage and family
• C. the regulation of trade unions
• D. the optimum size of population
• E. culture and religious beliefs

CORRECT ANSWER: D (the optimum size of the population)

Today’s WAEC Objectives Questions and Answers for Economics loading..

Practice WAEC Economics Past Questions

1. the movement of a worker from one grade to another within the same industry is a form of mobility of labour which is

• A. horizontal
• B. vertical
• C. occupational
• D. geographical
• E. lateral

2. The money paid per hour or week for work done is known as

• A. wage rate
• B. time rate
• C. bonus
• D. cost
• E. labour

All Candidates should attempt the following questions:

Today’s free Economics objectives questions and answers for WAEC Exams loading….

Economic 2023 Essay WAEC Questions and Answers PDF

Below is WAEC Economics theory Questions, kindly read the questions carefully before attempting them to avoid mistakes.

1. The table below represents a traveler’s consumption of bottles of Coca-Cola. Study it carefully and answer the questions that follow:-

(a) Determine the missing figures D, E, F, G and H.
(b) Draw the demand curve for the traveller’s consumption of Coca-Coca.
(c) Explain the law of diminishing marginal utility as the basis for the slope of the traveller’s demand curve.

2. (a) Distinguish between economic activities and an economic system.
(b) Explain the following terms:
(i) Production;
(ii) Distribution;
(iii) Consumption.

3. (a) With the aid of a diagram, explain a minimum price.
(b) State any five measures by which a minimum price for agricultural produce can be made effective.

4. (a) Explain the function of money as a
(i) measure of value;
(ii) store of value.
(b) Show how inflation affects these two functions of money.

Today’s Correct Economics Theory questions and answers for WAEC Exams loading….

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Where to get WAEC Economics Expo/Runs 2023/2024

To pass WAEC 2023 Economics once and for all is what should bother students that are ready. Are you among this category? Remember to follow the instructions below.

WAEC Economics, 2023 is very simple, feel relaxed and tackle it squarely. Also, some candidates fail WAEC, not because they are dull or not brighter, but because they are not well informed. If you wish to do it yourself, key into the following:

• MAKE GOOD FRIENDS
• MAKING PLANS FOR YOUR SUCCESS
•  GET YOURSELF ALL THE RECOMMENDED BOOKS
•  BUY PAST QUESTIONS
• START PREPARING FOR WAEC EARLY:
• AVOID SKIPPING EXAMPLES AND EXERCISES:
• TEST YOURSELF ON ECONOMICS:
• ALWAYS PRACTICE RELEVANT QUESTIONS
• RECREATION IS VERY IMPORTANT FOR YOU
•  ALWAYS DO REVISION:
•  MAKE SURE TO PARTICIPATE IN WAEC CLASSES:

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