by Sunday | Nov 6 | Economics WAEC
A. desire for the commodity B. significance of the commodity C. ability to pay for the commodity D. economic value of the commodity Correct Answer: Option A A. desire for the commodity Explanation So, the key difference between wants and demand is desire....
by Sunday | Nov 6 | Economics WAEC
A. complements B. substitutes C. luxurious D. inferior Correct Answer: Option B B. substitutes Explanation A positive cross-price elasticity value indicates that the two goods are substitutes. Two goods that complement each other have a negative cross elasticity of...
by Sunday | Nov 6 | Economics WAEC
A. directives of the government B. the pattern of consumers spending C. producers of consumer goods D. people producing what they want Correct Answer: Option B B. the pattern of consumers spending Explanation Consumer preferences and resource scarcity determine which...
by Sunday | Nov 6 | Economics WAEC
A. raw material B. money C. fuel D. machinery Correct Answer: Option D D. machinery Explanation Circulating capital can consist of cash, operating expenses, raw materials, inventory in the process, finished goods inventory and accounts receivable. Circulating capital...
by Sunday | Nov 6 | Economics WAEC
A. tuition, fees, and books B. boarding and lodging C. the wages are given up to attend the university D. transportation and entertainment Correct Answer: Option C C. the wages are given up to attend the university Explanation Opportunity cost is the value of the next...
by Sunday | Nov 6 | Economics WAEC
A. its issues can be easily verified by reference to facts B. it adopts scientific methods in making its analysis C. its issues are relevant for national development D. its subject matter studies human behaviour Correct Answer: Option D D. its subject matter studies...
Land Law and the Consequences of Unauthorized Land Transfers in Nigeria
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