WAEC Economics Past Questions and Answers


WAEC Economics past questions and answers are now available for download in PDF format. See how to access WAEC Economics past questions that will help boost your score and your overall performance in the 2024 WAEC Economics examination below.

WAEC Economics exam past questions and answers are provided here for download. All you have to do is to scroll through each of the questions. Scroll down to download the free WAEC Economics past questions and answers 2024.

WAEC Past Questions for Economics

This web page was created for the purpose of helping all prospective undergraduate students who are searching for WAEC Economics past questions Objective and Theory for preparation.

If you are one of them, then we have uploaded up-to-date WASSCE Economics past questions to help you during your preparation. So if you have been searching for WAEC past questions and answers for Economics, then you are on the right page.

The Economics WAEC past questions will help you to know the nature and pattern of the West African Examinations Council (WAEC) Examination. These materials will give you insight and prepares you for what to expect during the examination.


Our earnest desire is that you score higher in the upcoming West African Senior School Certificate Examination for prospective undergraduates. That’s why we have uploaded the WAEC past Economics questions and answers for your preparation.

All you have to do is to set aside time each day for your preparation in order to have a distinction or at least a credit pass. Remember, preparation is key to success.

Download the WASSCE Economics past questions in PDF format below.

WAEC Economics Past Questions and Answers

1. A normal demand curve is

  • A. Is concave to the point of origin
  • B. Is convex to the point of origin
  • C. Is parallel to X axis
  • D. Is parallel to Y axis
  • E. Slopes upwards from left to right

2. Which of the following is not an advantage of price control?

  • A. Control of inflation
  • B. Distortion of price mechanism
  • C. Prevention of exploitation
  • D. Control of producer’s profit
  • E. Helping low-income earners

3. When the demand for a commodity is inelastic, total revenue will fall if

  • A. Price is increased
  • B. Price is reduced
  • C. Price remains constant
  • D. Price is not given
  • E. The commodity is a luxury

4. Which of these factors does not cause a change in demand?

  • A. Income
  • B. Taste and fashion
  • C. Population
  • D. Price of other commodities
  • E. Price of the commodity concerned

5. The two largest producers of crude oil in Nigeria are

  • A. Borno and Ondo States
  • B. Oyo and Bendel States
  • C. Kwara and Benue States
  • D. Rivers and Bendel States
  • E. Niger and Rivers States

6. Which of the following is not a feature of Sole Proprietorship?

  • A. The Sole Proprietor provides the capital to start the business
  • B. The Sole Proprietor is the boss of his business
  • C. There is unlimited liability
  • D. Continuity is doubtful at the death of the proprietor
  • E. Decision can be taken only by ten people

7. Which of the following is not an item of capital expenditure?

  • A. Building of roads and bridges
  • B. Supply of electricity
  • C. Building of damns
  • D. Building of habours
  • E. Payment of interest on loans

8. The coefficient of price elasticity of demand is zero when demand is

  • A. Fairly elastic
  • B. Perfectly inelastic
  • C. Fairly inelastic
  • D. Unitary elastic
  • E. Perfectly elastic

9. When the demand for a commodity is inelastic, who bears the greater burden of the indirect tax?

  • A. The producer
  • B. The government
  • C. The retailer
  • D. The consumer
  • E. The wholesaler

10. The imposition of high-income tax by the government to cut down demand is known as

  • A. Monetary policy
  • B. Budgetary policy
  • C. Fiscal policy
  • D. Internal policy
  • E. Development policy

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