by Sunday | Aug 2 | Economics WAEC
A. Goods are manufactured in the factories B. are sold to the final consumer C. goods and services are distributed by the government D. producers fixed the price of goods produced E. goods and services get to the retailer Correct Answer: Option B – are sold to...
by Sunday | Aug 2 | Economics WAEC
A. labour B. butter C. television set D. breads E. motor cars Correct Answer: Option A – labour
by Sunday | Aug 2 | Economics WAEC
A. the economy can scarcely produce anything B. human wants are limitless C. the economy has very few resources D. human wants are limited, relative to resources E. resources are limited relative to wants Correct Answer: Option E – resources are limited relative...
by Sunday | Aug 2 | Economics WAEC
A. adopts the use of laboratory experiments B. involves accurate predictions of human beings C. makes use of controlled experiment D. use scientific methods to explain observed phenomena E. deals with observation and field work Correct Answer: Option D – use...
by Sunday | Aug 2 | Economics WAEC
A. members do not reduce price below the cartel price B. each member has a fixed output above which it is not expected to produce C. a powerful member fixes the price at which others will sell D. membes fix the prices for their products Correct Answer: Option B...