by Sunday | Jan 2 | Economics WAEC
A. in complementary demand B. of the same quality C. in composite demand D. in competitive demand Correct Answer: Option D – in competitive demand Explanation Competitive demand is also known as subtituted demand. There are alternative commodities which can...
by Sunday | Jan 2 | Economics WAEC
A. $ 90.00 B. $ 180.00 C. $ 324.00 D. $ 350.00 Correct Answer: Option C = $ 324.00 Explanation The contribution of the mining sector = 60% x 540 = 324
by Sunday | Jan 2 | Economics WAEC
A. leads to low production of goods and services B. requires large number of officials to operate C. considers individual consumers’ satisfaction D. worsens income inequality among the citizens Correct Answer: Option D – worsens income inequality among the...
by Sunday | Jan 2 | Economics WAEC
A. are unlimited in supply B. have high cost of production C. are free gifts of nature D. do not command any price Correct Answer: Option C – are free gifts of nature Explanation Natural resources exist naturally unlike man made resources that are created by...
by Sunday | Jan 2 | Economics WAEC
A. within the production possibility curve B. outside the production possibility curve C. along the production possibility curve D. adequate to meet market demand Correct Answer: Option A – within the production possibility curve Explanation Point inside the...