by Sunday | Nov 7 | Economics WAEC
A. increase B. fall C. fluctuate D. remain unchanged Correct Answer: Option A A. increase Explanation If prices for inelastic goods are increased, the total revenue increases, but it would lead to a small decrease in quantity demanded. This means that firms that deal...
by Sunday | Nov 7 | Economics WAEC
A. vertical B. backward bending C. horizontal D. negatively sloped Correct Answer: Option A A. vertical Explanation Necessity goods are products and services that consumers will buy regardless of the changes in their income levels, therefore making these products less...
by Sunday | Nov 7 | Economics WAEC
A country allocation to various sectors of the economy is shown in the pie chart below. Use the information to answer this question A. 2.3 B. 3.4 C. 4.3 D. 5.4 Correct Answer: Option B B. 3.4
by Sunday | Nov 7 | Economics WAEC
A country allocation to various sectors of the economy is shown in the pie chart below. Use the information to answer this question A. $2,400.00 B. $2,000.00 C. $1,200.00 D. $1,000.00 Correct Answer: Option A A. $2,400.00
by Sunday | Nov 7 | Economics WAEC
A. Bauxite deposit in the ground B. A lake used for irrigation C. A bulldozer for clearing farmland D. Grazing field for cattle Correct Answer: Option C C. A bulldozer for clearing farmland
by Sunday | Nov 7 | Economics WAEC
A. forces of demand and supply B. producers of the commodities C. the central planning authority D. consumers who are sovereign Correct Answer: Option C C. the central planning authority