Year : 
2005
Title : 
Economics
Exam : 
WASSCE/WAEC MAY/JUNE

Paper 1 | Objectives

1 - 10 of 49 Questions

# Question Ans
1.

Economic activities are undertaken to solve the problem of

A. Desire to spend more income on consumption

B. opprotuinity cost

C. production

D. scarcity

D

2.

Farming, mining and fishing are

A. primary production

B. secondary production

C. tertiary production

D. intermediate production

A

3.

A list of consumer's wants arranged in order of priorities is known as

A. a budget

B. an opprotuniy cost

C. A scale of preference

D. choice

C

4.

The 150.00 Naira which Olu would have used to purchase a textbook was used to buy a T-shirt . This implies that

A. Olu's real cost is 150.00 Naira

B. Olu's opprtunity cost is the T-shirt he bought

C. Olu's opportunity cost is the textbook

D. Olu's money cost is also the real cost

C

5.

The remuneration of the entrepreneur as a factor of production is called

A. wages

B. salary

C. interest

D. profit

D

6.

The production factor, whose entire world supply is fixed is

A. land

B. skilled labour

C. capital goods

D. entrepreneur

A

7.

When all factors input are reduced by half, the production possibility curve will shift

A. outwards

B. inwards

C. downwards

D. upwards

B

8.

When a worker changes from one tye of job to another, it is called

A. geographical mobility of labour

B. occupational mobility of labour

C. immobility of labour

D. rural-urban migration

B

9.

Which of the following determines the size of a country's population ? (I) Birth rate (II) Death rate (III) Migration rate (IV) Importation rate (V) Unemployment rate

A. (I), (II) and (V)

B. (II) and (IV)

C. (I),(II) and (III)

D. (IU) and (V)

C

10.

Age distribution is important because it helps the government to

A. check rural-urban drift

B. determines the number of foreigners

C. determines the number of factories

D. undertake effective planning

D

1.

Economic activities are undertaken to solve the problem of

A. Desire to spend more income on consumption

B. opprotuinity cost

C. production

D. scarcity

D

2.

Farming, mining and fishing are

A. primary production

B. secondary production

C. tertiary production

D. intermediate production

A

3.

A list of consumer's wants arranged in order of priorities is known as

A. a budget

B. an opprotuniy cost

C. A scale of preference

D. choice

C

4.

The 150.00 Naira which Olu would have used to purchase a textbook was used to buy a T-shirt . This implies that

A. Olu's real cost is 150.00 Naira

B. Olu's opprtunity cost is the T-shirt he bought

C. Olu's opportunity cost is the textbook

D. Olu's money cost is also the real cost

C

5.

The remuneration of the entrepreneur as a factor of production is called

A. wages

B. salary

C. interest

D. profit

D

6.

The production factor, whose entire world supply is fixed is

A. land

B. skilled labour

C. capital goods

D. entrepreneur

A

7.

When all factors input are reduced by half, the production possibility curve will shift

A. outwards

B. inwards

C. downwards

D. upwards

B

8.

When a worker changes from one tye of job to another, it is called

A. geographical mobility of labour

B. occupational mobility of labour

C. immobility of labour

D. rural-urban migration

B

9.

Which of the following determines the size of a country's population ? (I) Birth rate (II) Death rate (III) Migration rate (IV) Importation rate (V) Unemployment rate

A. (I), (II) and (V)

B. (II) and (IV)

C. (I),(II) and (III)

D. (IU) and (V)

C

10.

Age distribution is important because it helps the government to

A. check rural-urban drift

B. determines the number of foreigners

C. determines the number of factories

D. undertake effective planning

D