WAEC Economics Past Questions & Answers - Page 223

1,111.

A collective data which has not been processed is referred to as

A.

Disjointed data

B.

Raw data

C.

Class intervals

D.

Frequency

Correct answer is B

No explanation has been provided for this answer.

1,112.

The entire satisfaction that a consumer derived from a successive consumption of a particular commodity is known as

A.

Marginal utility

B.

Total utility

C.

Average utility

D.

Diminishing utility

Correct answer is B

No explanation has been provided for this answer.

1,113.

Basic extractive activities are classified as

A.

Manufacturing production

B.

Tertiary production

C.

Secondary production

D.

Primary production

Correct answer is D

No explanation has been provided for this answer.

1,114.

Economy problems arises mainly as a result of

A.

Inaccurate statistical data in West Africa

B.

Excessive wastage of available resources

C.

Lack of foresight on the part of resource users

D.

Limitation in the availability of resources

Correct answer is D

No explanation has been provided for this answer.

1,115.

Scarcity implies that

A.

Goods cannot be produced efficiently

B.

Human wants are unlimited

C.

Goods and services are limited in supply

D.

Commodities are evenly distributed within the economy

Correct answer is C

No explanation has been provided for this answer.