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WAEC Economics 2026 Question 8

Question 8

Basic Concepts

The basic economic problems of all societies arise because of

  1. A.inefficiency and corruption
  2. B.inadequate productive resources
  3. C.mismanagement of resources
  4. D.inadequate supply of money
Show the answer and explanation

Answer: B (inadequate productive resources)

Explanation

Scarcity of resources is the root of every economic problem.