WAEC Economics

OBJECTIVES 1. All economic systems must decide what to produce becauseA. resources are not available. B. consumers want maximum satisfaction. C. resources are limited in supply. D. producers want maximum profit. 2. In any economic system, which of the following is not an economic problem?A. What goods and services to…

OBJECTIVES 1. The action of government to forgo road construction in order to provide more health facilities denotesA. sound economic decisionB. opportunity costC. practicable government policyD. scale of preference 2. "Economics is a science which studies human behaviour as a relationship between ends and scarce means which have alternative uses".…