WASSCE ECONOMICS MAY/JUNE 2017 (SSCE WAEC MAY/JUNE 2017 ECONOMICS)
1. Economics is regarded as a science because?
A. its issues can be easily verified by reference to facts
B. it adopts scientific methods in making its analysis
C. its issues are relevant for national development
D. its subject matter studies human behaviour
2. The opportunity cost of a worker going to the university is
A. tuition, fees and books
WASSCE JUNE 2016 ECONOMICS OBJECTIVE QUESTION
1. Human wants are insatiable because wants are
A. limited while means are scarce
B. unlimited and means are also unlimited
C. limited and means are also limited
D. unlimited while means are scarce
2. Scale of preference is important for the following reasons except in
A. satisfying wants
B. making rational
C. making optimum allocation of resources
D. using scarce resources efficiently
WASSCE ECONOMICS MAY/JUNE 2015 (SSCE WAEC MAY/JUNE 2015 ECONOMICS)
1. Economics is regarded as a science because it?
A. studies laws that govern human behaviour
B. uses scientific method to explain human behaviour
C. makes use of controlled experiments to explain human behaviour
D. makes use of machines to study human behaviour
2. Which of the following can be described as land?
A. forest
B. diamond
C. roads
WASSCE ECONOMICS MAY/JUNE 2014 (SSCE WAEC MAY/JUNE 2014 ECONOMICS)
1. Human want are unlimited because
A. production is inadequate
B. resources have alternative uses
C. new wants always rise
D. resources are limited
2. A basic economic problem of any society is
A. high level of illiteracy
B. irregular power supply
C. population growth
D. resource allocation
WASSCE ECONOMICS MAY/JUNE 2013 (SSCE WAEC MAY/JUNE 2013 ECONOMICS)
1. The action of government to forgo road construction in order to provide more health facilities denotes
A. sound economic decision
B. opportunity cost
C. practicable government policy
D. scale of preference
2. In Economics, a market is defined as any
A. agreement made for consumers to buy all they need
WASSCE ECONOMICS MAY/JUNE 2012 (SSCE WAEC MAY/JUNE 2012 ECONOMICS)
1. Which of the following problems arises where there are more than one technically possible methods of production?
A. Where to produce
B. for whom to produce
C. how to produce
D. what to produce
2. Visible balance is also known as
A. terms of trade
B. balance of payments
C. balance of trade
D. capital balance
WASSCE ECONOMICS MAY/JUNE 2011 (SSCE WAEC MAY/JUNE 2011 ECONOMICS)
1. Human wants are
A. limited
B. scarce
C. unlimited
D. in grades
2. The difference between the money cost and the real cost of any item is that
A. real cost is the alternative forgone while the money cost is the actual amount paid for buying the item
B. the real cost is the opportunity cost, while the money cost is the marginal cost
WASSCE ECONOMICS MAY/JUNE 2010 (SSCE WAEC MAY/JUNE 2010 ECONOMICS)
1. The following are examples of economic goods except
A. bottled water
B. air
C. household utensils
D. shelter
2. A tent-making factory offers
A. personal services
B. indirect services
C. social services
D. reflex services
WASSCE ECONOMICS MAY/JUNE 2009 (SSCE WAEC MAY/JUNE 2009 ECONOMICS)
1. The study of economics becomes necessary because of the
A. large population size of the world
B. scarcity of resources
C. opportunity cost of goods and services
D. needs to satisfy every desire of man
2. The concept of opportunity cost is also referred to as
A. social cost
B. real cost
C. fixed cost
D. variable cost