by Sunday | Aug 8 | Economics WAEC
A. Planned economy B. Mixed economy C. Traditional economy D. Free Market economy E. Socialist economy Correct Answer: Option D – Free Market economy
by Sunday | Aug 8 | Economics WAEC
A. what goods and services to produce B. for whom to produce goods or services C. what techniques of production to be adopted D. equal distribution of goods and services E. how to ensure that the economy grows over time Correct Answer: Option D – equal...
by Sunday | Aug 8 | Economics WAEC
A. when MC = AR B. when MC = PC C. when MC = MR D. when AC = AR E. when AR = MR Correct Answer: Option C – when MC = MR
by Sunday | Aug 8 | Economics WAEC
A. supplier B. consumer C. quantity of goods demanded D. quantity of goods supplied E. interaction of demand and supply Correct Answer: Option E – interaction of demand and supply
by Sunday | Aug 8 | Economics WAEC
A. rate of which the population grows B. number of people that makes up the labour force C. efficiency of the working population D. industries which are becoming less important E. number of people that are bot employed Correct Answer: Option B – number of people...
by Sunday | Aug 8 | Economics WAEC
A. resource B. wants C. choice D. output E. factors Correct Answer: Option B – wants Explanation One of the many definitions of Economics states “Economics is a science that studies human behaviour as a relation between unlimited ends and the limited means. Ends...
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