NECO Economics · Foundations of economics
Definition and scope of economics: NECO Economics Past Questions and Answers
What the WAEC syllabus covers in Definition and scope of economics
Our summary: Why scarcity forces choices, what those choices cost, and how economic activities are grouped.
- Scarcity and choice, scale of preference, opportunity cost, production possibility curve
- Economic activities – production, distribution and consumption
- Classification of economic activities – primary, secondary and tertiary and their relative contributions in terms of output/income, employment, savings, investment and foreign exchange
Syllabus content © The West African Examinations Council (WASSCE (harmonised West African syllabus)). NECO questions are matched to the WAEC syllabus topic.
NECO Economics questions on Definition and scope of economics
- NECO 2009The concept of choice in Economics refers to
- NECO 2009A production possibility curve shows the
- NECO 2007The creation of physical and concrete goods that can be seen and handled Is
- NECO 2007Goods that are useful, scarce and can command price are called … . goods.
- NECO 2007Economics is regarded as a social science because It
- NECO 2005Production is said to be complete when goods and services gets to the
- NECO 2005The trade-off between two commodities along the Production Possibility Curve (PPC) shows
- NECO 2005Economic problem arises as a result of
- NECO 2004Points outside the production possibility curves shows
- NECO 2004The most generally accepted definition of Economics was given by
- NECO 2004In Economics, want means … aspiration
- NECO 2004Arrangement of wants in order of importance is brought about by
- NECO 2003The professional that view cost in term of alternatives sacrificed is the
- NECO 2003The most generally accepted definition of economics is
- NECO 2003Which of these is NOT a basic economic problem of society?
- NECO 2003Abdul is faced with a choice between buying a new NOTE book and a pen with N10. Since the N10 can NOT give him both items he decide to buy NOTE book. The money…
- NECO 2002One of the fundamental economic problem of every society is
- NECO 2002Which of the following factors will NOT account for an outward shift of production possibility curve?
Years with Definition and scope of economics questions in DeeepSolve's question bank
From the past questions DeeepSolve holds, not a count of everything the exam body has set.
- 2009
- 2007
- 2005
- 2004
- 2003
- 2002