Year :
1989
Title :
Economics
Exam :
WASSCE/WAEC MAY/JUNE
Paper 1 | Objectives
1 - 10 of 41 Questions
| # | Question | Ans |
|---|---|---|
| 1. |
Scarcity in Economics means that resources A. Are not enough to share among producers of goods and services B. Needed to satisfy human wants are limited C. Are never enough to share among consumers of goods and services D. Required to meet our essential wants are unlimited E. Can be managed if those who use them can behave rationally |
B |
| 2. |
A table which shows the price of a commodity and the quantity of it that is demanded per unit time is a A. Time series B. Demand series C. Demand curve D. Demand schedule E. Time schedule |
D |
| 3. |
The greatest disadvantages f barter system is the need for A. Durability B. Divisibility C. Homogeneity D. Double coincidence of wants E. Portability |
D |
| 4. |
An inflation in which the price rises steadily at an average rate of about 2% per annum is best described ad A. Galloping B. Induced C. Creeping D. Suppressed E. Run-away |
C |
| 5. |
In Economics market is define as A. A place where buyers and sellers come together to exchange goods B. Any agreement made for consumers to buy all they need C. any arrangement made for producers to sell all their goods D. any arrangement where by buyers and sellers are in close touch with one another E. a place where only consumer goods are sold |
D |
| 6. |
Money supply at any given point in time refers to as A. bank notes, coins abd demand deposits B. notes and coins only C. minted money D. hoarded money E. money received as gifts |
A |
| 7. |
All the following are source of finance to a Joint Stock Company except A. bank loans B. equity shares C. debentures D. preference shares E. cooperative thrift |
E |
| 8. |
Data presented in table are usually arranged in A. charts and tables B. rows and columns C. graphs and rows D. pictograms and columns E. maps and pie charts |
B |
| 9. |
Which of the following is not a function of money? A. store of values B. unit of accounts C. measures of value D. standard for deferred payment E. stability in value |
E |
| 10. |
Which of the following is not appropriate in calculating national income figures? A. output method B. Income method C. Expenditure method D. Value added method E. Depreciation method |
E |
| 1. |
Scarcity in Economics means that resources A. Are not enough to share among producers of goods and services B. Needed to satisfy human wants are limited C. Are never enough to share among consumers of goods and services D. Required to meet our essential wants are unlimited E. Can be managed if those who use them can behave rationally |
B |
| 2. |
A table which shows the price of a commodity and the quantity of it that is demanded per unit time is a A. Time series B. Demand series C. Demand curve D. Demand schedule E. Time schedule |
D |
| 3. |
The greatest disadvantages f barter system is the need for A. Durability B. Divisibility C. Homogeneity D. Double coincidence of wants E. Portability |
D |
| 4. |
An inflation in which the price rises steadily at an average rate of about 2% per annum is best described ad A. Galloping B. Induced C. Creeping D. Suppressed E. Run-away |
C |
| 5. |
In Economics market is define as A. A place where buyers and sellers come together to exchange goods B. Any agreement made for consumers to buy all they need C. any arrangement made for producers to sell all their goods D. any arrangement where by buyers and sellers are in close touch with one another E. a place where only consumer goods are sold |
D |
| 6. |
Money supply at any given point in time refers to as A. bank notes, coins abd demand deposits B. notes and coins only C. minted money D. hoarded money E. money received as gifts |
A |
| 7. |
All the following are source of finance to a Joint Stock Company except A. bank loans B. equity shares C. debentures D. preference shares E. cooperative thrift |
E |
| 8. |
Data presented in table are usually arranged in A. charts and tables B. rows and columns C. graphs and rows D. pictograms and columns E. maps and pie charts |
B |
| 9. |
Which of the following is not a function of money? A. store of values B. unit of accounts C. measures of value D. standard for deferred payment E. stability in value |
E |
| 10. |
Which of the following is not appropriate in calculating national income figures? A. output method B. Income method C. Expenditure method D. Value added method E. Depreciation method |
E |