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Economics Past WAEC Questions and Answers PDF

Due to the complicated nature of the examination, many people are unable to do well in the examination. If you are one of the students in this category, then you do not need to bother about it anymore because we have the solution to that problem, and the solution is in having Past Questions.

However, you need to understand that before going for any examination, maximum preparation is required to get the necessary success. therefore, we bring you information on econmic waec Past Questions, what it is all about, how it is patterned to suit your demand, and the easiest way to download or get it.

he Benefit of Having Economics Past WAEC Questions

It will expose you to the questions that have been asked years back as most of those questions and answers get repeated every year while some will just be rephrased. So if you don’t have a copy of this past question, then you are losing out. It also provides useful information about the types of questions to expect. You will find out the number of questions you will see in the examination. Economics Past WAEC Questions

Past Questions is the compilation of all the questions that was given to candidates to answer over the years and it is offered in pdf format. We have made it very simple such that every student can get it with their smartphone.

How is JAMB Past Questions Patterned?

We have made it simple for you. we bring all the questions which is usually in objective format since it is now in CBT. We have put them together but we indicate the specific years for every question and the correct answers in order to save your time. All you need to do is to devote quality time to study the Past Questions

Sample questions from Economics Past WAEC Questions

Question 1

If X represents the factors of production and Y represent the factor price, which of the following sets of association iscorrect?

Options

A) (land, rent) (capital, wage), (labour, profit)

B) (land, interest) (capital,profit), (labour, wage)

C) (land, wage), (capital, interest), (labour, rent)

D) (land,rent), (capital, interest), (labour, wage)

Question 2

If the cost of production for a firm continues to increase as it output rises, the firm is said to be experiencing?

Options

A) large-scale production

B) profit maximization

C) economies of scale

D) diseconomies of scale

Question 3

Given perfect competition in the capital market, the opportunity cost of capital is adequately reflected by the?

Options

A) interest rate

B) returns on capital

C) alternative capital foregone

D) shadow price of foreign exchange

Question 4

If a 10k per kg, 1000kg of yam were purchased and at 5k per kg, 1,500kg were purchased, the resultant point elasticity of demand is?

Options

A) 0.33

B) 0.0001

C) 1

D) 10,000

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7 Tips to Prepare for WAEC Exams

  1. Don’t make reading your hobby: A lot of people put reading as a hobby in their CV, they might be right because they have finished schooling. But “You” are still schooling, so reading should be in top priority and not as a hobby. Read far and wide to enhance your level of aptitude
  2. Get Exams Preparation Materials: These involve textbooks, dictionaries, WAEC Past Questions and answers in pdf format, and others. These materials will enhance your mastering of the scope of the exams you are expecting.
  3. Attend Extramural Classes: Register and attend extramural classes at your location. This class will not only help you refresh your memory but will boast your classroom understanding and discoveries of new knowledge. Dollar to Naira Rate
  4. Sleep when you feel like: When you are preparing for any exams, sleeping is very important because it helps in the consolidation of memory. Caution: Only sleep when you feel like it and don’t oversleep.
  5. Make sure you are healthy: Sickness can cause excessive feelings of tiredness and fatigue and will not allow you to concentrate on reading. If you are feeling as if you are not well, report to your parent, a nurse or a doctor. Make sure you are well. Pounds to Naira
  6. Eat when you feel like: During the exam preparation period, you are advised not to overeat, so as to avoid sleep. You need to eat little and light food whenever you feel like eating. Eat more of fruits, drink milk and glucose. This will help you to enhance retention.
  7. Reduce your time in social media: Some people live their entire life on Facebook, Twitter, WhatsApp, Messenger chat. This is so bad and catastrophic if you are preparing for exams. Try and reduce your time spent on social media during this time. Maybe after the exams, you can go back and sleep in it.

If you like these tips, consider sharing them with your friends and relatives. Do you have a question or comments? Put it on the comment form below. We will be pleased to hear from you and help you to score as high as possible.

We wish you good luck!