by Sunday | Aug 3 | Economics WAEC
A. market size B. availability of an infrastructure C. wage rate D. Raw materials E. Availability of land Correct Answer: Option A – market size
by Sunday | Aug 3 | Economics WAEC
A. as price increases, quantity demanded remains constant B. demand increases as price increases C. as price falls, quantity demanded also falls D. as price falls, quantity demanded increases E. demand and supply remains constant whether price fall or increase Correct...
by Sunday | Aug 3 | Economics WAEC
A. all economics system B. a mixed economic system only C. a democratic socialist economy only D. a free enterprise system only E. a planned economic system only Correct Answer: A – all economics system
by Sunday | Aug 3 | Economics WAEC
A. shortage of commodity B. unlimited demands for consumer goods C. limited supply of goods and services D. total absence of a commodity in the market E. high cost of a commodity Correct Answer: Option C – limited supply of goods and...
by Sunday | Aug 3 | Economics WAEC
A. to redistribute income B. human beings behave C. the market price is fixed D. scarce resources are allocated to satisfy human wants E. high cost of a commodity Correct Answer: Option D – scarce resources are allocated to satisfy human...
by Sunday | Aug 3 | Economics WAEC
A. ensure that third world countries get a better share of the world’s resources B. promote international economic co-operation for the mutual benefit of all members C. enforce structural adjustment programmes on less developed countries D. encourage exports...