WAEC Economics Past Questions
Master Economics theory and calculations with real past exam papers. Download solutions and improve your understanding of demand & supply, market structures, and national income.
Sample Questions by Topic
Practice key topics that frequently appear in WAEC Economics exams
📊 Demand & Supply
Market equilibrium, elasticity calculations, price determination, consumer & producer surplus
Study Guide →🏭 Production & Costs
Law of diminishing returns, fixed/variable costs, break-even analysis, economies of scale
Study Guide →🛍️ Market Structures
Perfect competition, monopoly, oligopoly, monopolistic competition characteristics
Study Guide →💰 National Income
GDP calculations, consumption, investment, government spending, net exports (C+I+G+X-M)
Study Guide →🏦 Money & Banking
Money supply, interest rates, Central Bank functions, commercial banking operations
Study Guide →📈 Inflation & Unemployment
CPI calculations, inflation types, unemployment rates, Phillips curve, economic growth
Study Guide →Common Exam Patterns in WAEC Economics
Key Economics Calculations for WAEC Exams
📊 GDP Formula
GDP = C + I + G + (X - M)
Consumption + Investment + Government + Exports - Imports
⚖️ Market Equilibrium
Qd = Qs
Quantity demanded equals quantity supplied at equilibrium price
📈 Price Elasticity
PED = % Change in Qd / % Change in Price
Measures responsiveness to price changes
💰 Profit Calculation
Profit = TR - TC
Total Revenue minus Total Cost
🔄 Break-Even Point
TR = TC or P = ATC
Point where profit equals zero
📉 Inflation Rate
Inflation = (CPI₂ - CPI₁) / CPI₁ × 100
Percentage change in Consumer Price Index
Recommended Resources
📚 Complete Economics Guide
Comprehensive guide covering all Economics topics, formulas, and exam strategies for WAEC 2026.
Read Guide →⚡ Interactive Practice Tests
Try randomized Economics questions with instant feedback and detailed explanations.
Practice Now →📖 All Study Guides
Browse all WAEC subjects and study tips. Comprehensive learning resources for all topics.
Browse Guides →Why Practice Economics Past Questions?
🎯 Master Calculations
Economics requires precise calculations. Past papers train you to work through GDP, elasticity, profit, and other formulas quickly and accurately.
📊 Understand Question Patterns
WAEC repeats certain Economics topics. Past papers show which chapters are tested most frequently.
⏱️ Build Time Management Skills
Economics papers are calculation-heavy. Timed practice builds speed and prevents running out of time during the exam.
💡 Learn from Solutions
Detailed solutions show the right way to present answers. Economics requires showing all steps for partial credit.
🏆 Boost Your Confidence
Solving real past papers gives confidence. You know what to expect on exam day and how to approach different question types.