by Sunday | Nov 8 | Economics WAEC
A. elastic demand B. perfectly elastic demand C. inelastic demand D. unitary elastic demand Correct Answer: Option C C. inelastic demand Explanation Inelastic demand in economics is when people buy about the same amount whether the price drops or...
by Sunday | Nov 8 | Economics WAEC
A. real per capita income B. level of primary production C. population growth rate D. level of illiteracy Correct Answer: Option A A. real per capita income Explanation Common Characteristics of Developing Economies Low per capita real income. High population growth...
by Sunday | Nov 8 | Economics WAEC
A. commercial banks B. co-operative credit societies C. central banks D. development banks Correct Answer: Option A A. commercial banks Explanation A joint-stock company is a business owned by people called shareholders. Each shareholder owns company stock in...
by Sunday | Nov 8 | Economics WAEC
A. a fall in price and an increase in quantity bought and sold B. an increase in price and increase in quantity bought and sold C. a fall in price and a fall in quantity bought and sold D. an increase in quantity supplied and demanded only Correct Answer: Option A A....
by Sunday | Nov 8 | Economics WAEC
A. Local government authorities B. Trade unions C. Marketing boards D. Co-operative organizations Correct Answer: Option C C. Marketing boards Explanation A marketing board is an organization created by many producers to try to market their product and increase...
by Sunday | Nov 8 | Economics WAEC
A. experiencing a high rate of emigration B. made up of a large number of old people C. not producing enough goods D. not contributing enough to the national income Correct Answer: Option A A. experiencing a high rate of emigration Explanation Emigration: is the act...