by Sunday | May 23 | Economics WAEC
A. large population size of the world B. scarcity of resources C. opportunity cost of goods and services D. needs to satisfy every desire of man Correct Answer: Option B B. scarcity of resources
by Sunday | Jan 8 | Economics WAEC
A. Bankers B. Traders C. Insurers D. Goldsmith Correct Answer: Option D D. Goldsmith Explanation Commercial occupation are those activities involved in the distribution and exchange of goods and services.
by Sunday | Jan 8 | Economics WAEC
A. Government B. Corporate Affairs Commission C. Agent D. Enterprise Correct Answer: Option B B. Corporate Affairs Commission Explanation All businesses must be registered with the Corporate Affairs Commission and a certificate of incorporation will be issued to any...
by Sunday | Jan 8 | Economics WAEC
A. Value B. Index C. Price Level D. Wages Correct Answer: Option C C. Price Level Explanation The purchasing power of money depends upon the price level when the price level rises, the purchasing power of money gets reduced, thus adversely affecting the real wages of...
by Sunday | Jan 8 | Economics WAEC
A. Bulk B. Large C. Units D. Chain Correct Answer: Option C C. Units Explanation A retailer is a trader who buys goods in small quantities from the wholesaler and sells in bits or units to the final consumer.
by Sunday | Jan 8 | Economics WAEC
A. scarce B. unlimited C. free D. many Correct Answer: Option A A. scarce Explanation The basic problem of every society in any type of economic system, be it capitalist, socialist and mixed economy is choice and scarcity because resources are...