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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 161· Market structures· WAEC

    In perfect competition, firms are

    Explanation and discussion

  2. Question 162· Market structures· WAEC

    In perfect competition, a firm is a

    Explanation and discussion

  3. Question 163· Market structures· WAEC

    A market dominated by a few large firms is

    Explanation and discussion

  4. Question 164· Methods and tools of economic analysis· WAEC

    The median of 15, 9, 21, 12 and 18 is

    Explanation and discussion

  5. Question 165· Methods and tools of economic analysis· WAEC

    Which chart best shows the shares of total government spending on education, health, defence and roads?

    Explanation and discussion

  6. Question 166· Methods and tools of economic analysis· WAEC

    A survey found that a loaf of bread cost ₦600, ₦650, ₦650, ₦700 and ₦800 in five shops. Find the mode.

    Explanation and discussion

  7. Question 167· Methods and tools of economic analysis· WAEC

    Find the median of 7, 3, 9, 5 and 11.

    Explanation and discussion

  8. Question 168· Methods and tools of economic analysis· WAEC

    The mode of the data 3, 5, 5, 7, 9 and 5 is

    Explanation and discussion

  9. Question 169· Methods and tools of economic analysis· WAEC

    The mean of 6, 8, 10, 12 and 14 is

    Explanation and discussion

  10. Question 170· Methods and tools of economic analysis· WAEC

    In a pie chart of total expenditure of ₦720,000, food costs ₦180,000. The angle for food is

    Explanation and discussion

  11. Question 171· Methods and tools of economic analysis· WAEC

    The value that occurs most often in a set of data is the

    Explanation and discussion

  12. Question 172· Methods and tools of economic analysis· WAEC

    Find the mean of 12, 15, 18, 20 and 25.

    Explanation and discussion

  13. Question 173· Methods and tools of economic analysis· WAEC

    A diagram in which data are shown as sectors of a circle is a

    Explanation and discussion

  14. Question 174· Methods and tools of economic analysis· WAEC

    The middle value of a set of data arranged in order is the

    Explanation and discussion

  15. Question 175· Methods and tools of economic analysis· WAEC

    The median of the figures 3, 9, 5, 11 and 7 is

    Explanation and discussion

  16. Question 176· Methods and tools of economic analysis· WAEC

    The arithmetic mean of 4, 6, 8 and 10 is

    Explanation and discussion

  17. Question 177· Methods and tools of economic analysis· WAEC

    A graph showing changes in a variable over time is a

    Explanation and discussion

  18. Question 178· Money and inflation· WAEC

    When prices of most goods keep rising over a long period, people on fixed incomes

    Explanation and discussion

  19. Question 179· Money and inflation· WAEC

    Which function of money allows the worth of a goat and a bag of rice to be compared?

    Explanation and discussion

  20. Question 180· Money and inflation· WAEC

    The value of money is

    Explanation and discussion

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