WAEC questions on the theory of production – types
OBJECTIVES 1. The type of production that involves the tapping and harnessing of natural resources isA. primary production. B. secondary production. C. tertiary production. D. industrial production. 2. The three broad categories of production areA.…
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WAEC questions on Economic Problems
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…
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WAEC & JAMB questions on Economics as a Science – Definition & Basic Concepts
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…
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