by Sunday | Jan 2 | Economics WAEC
A. common agricultural policy is in place B. the size of the market is widened C. factors of production are free to move and be moved D. common currency is in use Correct Answer: Option C – factors of production are free to move and be moved Explanation Economic...
by Sunday | Jan 2 | Economics WAEC
A. joint supply B. composite supply C. competitive supply D. market supply Correct Answer: Option A – joint supply Explanation Joint supply is a type of supply in which the production of one article in itself leads to the production of other article as well. for...
by Sunday | Jan 2 | Economics WAEC
A. current account transaction B. capital account transaction C. balance of trade account transaction D. invisible balance account transaction Correct Answer: Option B – capital account transaction Explanation Capital account transaction is the net balance of...
by Sunday | Jan 2 | Economics WAEC
A. his marginal utility is equal to zero B. he can equate his demand with price C. he equates marginal utility and price D. he can equate his marginal and total utilities Correct Answer: Option C – he equates marginal utility and price Explanation A consumer is...
by Sunday | Jan 2 | Economics WAEC
A. Construction industry B. Processing industry C. Mining industry D. Service industry Correct Answer: Option C – Mining industry Explanation Primary products are goods that are available from cultivating raw materials without a manufacturing process....
by Sunday | Jan 2 | Economics WAEC
A. money transferred to another country B. transfer of funds from one bank to another C. unemployment allowance paid to the citizens D. the amount paid to a worker on transfer Correct Answer: Option C – unemployment allowance paid to the citizens Explanation...
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