WAEC 2025 Economics Questions and Answers (OBJ & Essay)

Are you preparing for the WAEC 2025 Economics qustions and answers exam? This guide provides you with likely questions and answers for both Objective and Essay, complete with tips on how to pass and real-time updates before the exam. If you’re aiming for a high score in Economics, you’re in the right place!

WAEC 2025 Economics qustions and answers

WAEC 2025 Economics Exam Format

The WAEC Economics paper is typically divided into two sections:

Paper 1 (Objective): 50 multiple-choice questions
Paper 2 (Essay): Essay-type theory questions. Candidates are usually required to answer 5 out of 8.

More OBJ/essay questions and answers will be uploaded closer to the exam day. Bookmark this page and keep checking.

CLICK HERE TO GET FULL QUESTIONS AND ANSWERS

WAEC 2025 Economics Likely Essay Questions and Answers

Here are some expected and repeated questions based on the WAEC syllabus and past papers:

Question 1

Define opportunity cost and explain its importance in economic decision-making.

✅ Answer:
Opportunity cost refers to the value of the next best alternative forgone when a choice is made. It is important in economic decision-making because resources are scarce and must be allocated efficiently to maximize satisfaction.

Question 2

State and explain four causes of unemployment in West African countries.

✅ Answer:

Lack of industrialization – Few industries to absorb labour.
Population growth – More people than available jobs.
Poor education and skills – Mismatch between graduates and market needs.
Political instability – Discourages investment and job creation.

Question 3

List and explain four characteristics of money.

✅ Answer:

Durability – Must last long in use.
Portability – Easy to carry and move.
Divisibility – Can be broken into smaller units.
Acceptability – Widely accepted as a medium of exchange.

Question 4

Explain the difference between demand and effective demand.

✅ Answer:
Demand is the desire to buy a good or service, while effective demand is the desire backed by the ability and willingness to pay. Only effective demand influences the market.

Rcommended post:

WAEC 2025 Economics OBJ Questions and Answers (Samples)

Here are sample multiple-choice questions to practice:

Economics is best defined as the study of:
A. Money and banking
B. How people spend money
✅ C. Allocation of scarce resources
D. National income and output
Which of the following is a factor of production?
A. Rent
✅ B. Capital
C. Profit
D. Price
A demand curve usually slopes:
A. Upward to the right
✅ B. Downward to the right
C. Horizontally
D. Vertically
Inflation is best described as:
✅ A. A general rise in prices
B. A fall in GDP
C. Increase in imports
D. Shortage of money

The central bank controls inflation through:
A. Public borrowing
✅ B. Monetary policy
C. Fiscal policy
D. Free market

WAEC Economics 2025 Study Tips

Study WAEC syllabus thoroughly: Focus on demand and supply, production, inflation, population, unemployment, money, and banking.

Master diagrams and graphs: Questions often include demand/supply curves, PPC, inflation trends, etc.

Practice past questions regularly: Repeated questions are common, especially in objectives.

Understand definitions clearly: Use standard economic terms and explain with examples when possible.

When Is WAEC 2025 Economics Exam?

The WAEC 2025 Economics exam is scheduled for May or June 2025, depending on the official timetable from WAEC. We’ll update you as soon as it’s released.

Real-Time Economics Answers & Expo

We’ll upload the verified WAEC 2025 Economics answers (OBJ & Essay) a few hours before the paper.

👉 CLICK HERE TO JOIN OUR TELEGRAM GROUP for live updates and free expo alerts.

Final Words

Economics can be one of the easiest WAEC subjects if you prepare well. Understand the concepts, practice regularly, and stay up to date. Avoid malpractice and stay confident — you’ve got this!

Bookmark this page and return for real WAEC 2025 Economics expo, free answers, and solved past questions.