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WAEC Economics questions: Methods and tools of economic analysis

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

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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 1· Methods and tools of economic analysis· WAEC

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

    Explanation and discussion

  2. Question 2· 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

  3. Question 3· 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

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

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

    Explanation and discussion

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

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

    Explanation and discussion

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

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

    Explanation and discussion

  7. Question 7· 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

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

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

    Explanation and discussion

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

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

    Explanation and discussion

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

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

    Explanation and discussion

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

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

    Explanation and discussion

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

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

    Explanation and discussion

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

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

    Explanation and discussion

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

    A graph showing changes in a variable over time is a

    Explanation and discussion

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