by Sunday | Aug 7 | Economics WAEC
A. reduce the death rate B. limit the number of women a man can marry C. keep the population growth rate constant D. raise the standard of living of the population Correct Answer: Option D – raise the standard of living of the...
by Sunday | Aug 7 | Economics WAEC
A. There is government intervention in price determination B. Consumer sovereignty does not exist C. The price mechanism allocates resources D. Households cannot freely decide what to spend on goods and services Correct Answer: Option C – The price mechanism...
by Sunday | Aug 7 | Economics WAEC
A. amount of X it could not produce B. amount of Y it produced C. total amount of Y it could have produced D. extra amount of Y it could have produced Correct Answer: Option C – total amount of Y it could have produced
by Sunday | Aug 7 | Economics WAEC
A. consumers preference for luxury goods B. the household monthly income C. list of goods and services in order of priority D. budget preparation without paying due regard to priority Correct Answer: Option C – list of goods and services in order of...
by Sunday | Aug 7 | Economics WAEC
A. Unlimited human wants B. Wants of varying important C. Limited means available for satisfying wants D. Means used in different ways Correct Answer: Option A – Unlimited human wants
by Sunday | Aug 7 | Economics WAEC
A. The duplication of some services will lead to resource wastage B. all corporation provides services which individuals cannot provide C. Essential services must be provided irrespective of the economic system adopted D. some corporations require large financial...
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