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Economics

Economics · Quick practice · answer shown after each question

Basic concepts

Question 1 of 10

Question 1 of 10

The alternative forgone when a choice is made is the

Question 2 of 10

Question 2 of 10

A country can produce 100 tonnes of rice or 50 tonnes of maize. The opportunity cost of 1 tonne of maize is

Question 3 of 10

Question 3 of 10

The reward for land as a factor of production is

Question 4 of 10

Question 4 of 10

A concave PPC shows

Question 5 of 10

Question 5 of 10

A production possibility curve that is concave to the origin shows

Question 6 of 10

Question 6 of 10

A scale of preference is

Question 7 of 10

Question 7 of 10

Which of the following is an example of a free good?

Question 8 of 10

Question 8 of 10

Positive economics deals with

Question 9 of 10

Question 9 of 10

Economics is best defined as the study of

Question 10 of 10

Question 10 of 10

An outward shift of the PPC represents

Questions written by OtisamLMS in the style of the WASSCE. They are not WAEC past questions.