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WAEC Economics questions

367 questions with answers and explanations. Tap an option to check yourself.

AllJAMBWAEC
All topicsAgriculture in Nigeria · 15Business organisations · 14Economic growth and development · 15Economic systems · 13Economics as a science · 15Factors of production · 15Financial institutions · 14Industry and industrialisation · 15International economic organisations · 16International trade · 16Market structures · 15Methods and tools of economic analysis · 14Money and inflation · 17National income · 18Natural resources and the Nigerian economy · 15Population · 15Public finance · 14The labour market · 15Theory of consumer behaviour · 15Theory of costs and revenue · 16Theory of demand · 21Theory of price determination · 14Theory of production · 14Theory of supply · 16

  1. Question 181· Money and inflation· WAEC

    During inflation, the people who usually gain are

    Explanation and discussion

  2. Question 182· Money and inflation· WAEC

    Inflation caused by rising costs of production is

    Explanation and discussion

  3. Question 183· Money and inflation· WAEC

    Deflation is

    Explanation and discussion

  4. Question 184· Money and inflation· WAEC

    Which function of money allows goods to be valued in a common unit?

    Explanation and discussion

  5. Question 185· Money and inflation· WAEC

    A sharp rise in the price of diesel raises the cost of running factories and pushes up prices. This is

    Explanation and discussion

  6. Question 186· Money and inflation· WAEC

    People who are likely to lose during inflation are

    Explanation and discussion

  7. Question 187· Money and inflation· WAEC

    Inflation caused by rising wages and raw-material prices is

    Explanation and discussion

  8. Question 188· Money and inflation· WAEC

    The most important function of money is as a

    Explanation and discussion

  9. Question 189· Money and inflation· WAEC

    The quantity theory of money states that MV = PT. If V and T are constant, an increase in M raises

    Explanation and discussion

  10. Question 190· Money and inflation· WAEC

    A persistent fall in the general price level is

    Explanation and discussion

  11. Question 191· Money and inflation· WAEC

    A price index rises from 120 to 150. Find the rate of inflation.

    Explanation and discussion

  12. Question 192· Money and inflation· WAEC

    Money held to meet unforeseen emergencies is demanded for the

    Explanation and discussion

  13. Question 193· Money and inflation· WAEC

    People on fixed incomes suffer during inflation because

    Explanation and discussion

  14. Question 194· Money and inflation· WAEC

    Cost-push inflation results from

    Explanation and discussion

  15. Question 195· National income· WAEC

    Gross Domestic Product measures the total value of goods and services produced

    Explanation and discussion

  16. Question 196· National income· WAEC

    Per capita income is

    Explanation and discussion

  17. Question 197· National income· WAEC

    Transfer payments such as pensions are excluded from national income because

    Explanation and discussion

  18. Question 198· National income· WAEC

    National income per capita is obtained by dividing national income by the

    Explanation and discussion

  19. Question 199· National income· WAEC

    Net national product is GNP minus

    Explanation and discussion

  20. Question 200· National income· WAEC

    Gross National Product equals Gross Domestic Product plus

    Explanation and discussion

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