Economics WAEC - Page 116 of 319 - Erudites Academy

When the government imposes a unit tax on a commodity with perfectly inelastic demand, the?

When the government imposes a unit tax on a commodity with perfectly inelastic demand, the?

by Sunday | Aug 3 | Economics WAEC

A. tax is borne entirely by the seller B. tax is shared equally between the buyer and the seller C. seller bears 70% and the consumer bears 30% of the tax D. tax is borne entirely by the consumer E. tax is borne by nobody Correct Answer: Option D – tax is borne...

When the government imposes a unit tax on a commodity with perfectly inelastic demand, the?

In a public company, entrepreneural function are performed by the?

by Sunday | Aug 3 | Economics WAEC

A. workers B. shareholders C. creditors D. board of directors E. chairman Correct Answer: Option D – board of directors

When the government imposes a unit tax on a commodity with perfectly inelastic demand, the?

If an economy grows at an annual rate of 6% of which 4% is deemed to be due to improvement in the productivity of labour and capital combined, the remaining 2% is generally attributed to the

by Sunday | Aug 3 | Economics WAEC

A. amount of natural resources B. improvement in banking services C. size of the population D. quality of human resources E. improvement in government fiscal policies Correct Answer: Option A – amount of natural...

When the government imposes a unit tax on a commodity with perfectly inelastic demand, the?

Hoarding in distributive trade leads to?

by Sunday | Aug 3 | Economics WAEC

A. non-availability of commodities B. production of inferior goods C. increase in the supply of goods D. decrease in the supply of goods E. artificial scarcity of goods Correct Answer: Option E – artificial scarcity of...

Which of the following is not true of a firm in equilibrium condition in perfect competition?

by Sunday | Aug 3 | Economics WAEC

A. MC is rising B. MC curves cut AC curves from below C. MR>AR D. MC = AC E. MR = AR Correct Answer: Option C – MR>AR

When the government imposes a unit tax on a commodity with perfectly inelastic demand, the?

The outward shift to the production possibility curve could be due to?

by Sunday | Aug 3 | Economics WAEC

A. military conquest B. increased money supply C. inflation D. economic growth E. massive importation Correct Answer: Option D – economic growth

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