by Sunday | Jan 7 | Economics WAEC
A. a wish for the lowest possible price B. ability and willingness to pay C. cash in one’s pocket D. a promise to make payment Correct Answer: Option B B. ability and willingness to pay Explanation Effective demand is the desire, backed by willingness and...
by Sunday | Jan 7 | Economics WAEC
John an apprentice, engineer, and amateur trumpet player, was earning ₦30 per week before accepting Full-time employment in a top orchestra, for which he now receives ₦150 per week. ₦120 of his current weekly earnings can be described as? A. marginal physical...
by Sunday | Jan 7 | Economics WAEC
A. Producer B. Retailer C. Consumer D. Wholesaler Correct Answer: Option C C. Consumer Explanation Goods are moved from the producer/manufacturer to the wholesaler, from the wholesaler to the retailer and from the retailer to the consumer, which is the last link in...
by Sunday | Jan 7 | Economics WAEC
A. Mixed economy B. Socialism C. Command economy D. Capitalism Correct Answer: Option D D. Capitalism Explanation The market mechanism is solved through the Forces of demand and supply in the capitalist economy which is also known as free enterprise or a free-market...
by Sunday | Jan 7 | Economics WAEC
A. Sales by Auction B. Tender C. Higgling and Haggling D. Price Control Correct Answer: Option C C. Higgling and Haggling Explanation Higgling and Haggling is one of the ways prices are determined in an imperfect market. The buyer’s maximum price and the...
by Sunday | Jan 7 | Economics WAEC
A. production of goods and services B. distribution of wealth C. allocation of resources for growth D. creation of utility Correct Answer: Option C C. allocation of resources for growth Explanation Economics study scarcity because the resources are limited. Also, it...
Land Law and the Consequences of Unauthorized Land Transfers in Nigeria
Original price was: ₦1,000.00.₦300.00Current price is: ₦300.00.