by Sunday | Aug 2 | Economics WAEC
A. rises as its price rises B. falls as its price rises C. rises as its price falls D. is perfectly inelastic Correct Answer: Option A – rises as its price rises Explanation: An inferior good is an economic term that describes a good whose demand drops when...
by Sunday | Aug 2 | Economics WAEC
A. overhead cost B. fixed cost C. marginal cost D. average variable cost Correct Answer: Option D – average variable cost
by Sunday | Aug 2 | Economics WAEC
A. labour to output B. man-hours to output C. output to man-hours D. average product to man-hours Correct Answer: Option C – output to man-hours
by Sunday | Aug 2 | Economics WAEC
A. reduce the birth rate B. reduce the emigration rate C. increase the birth rate D. enhance longevity Correct Answer: Option A – reduce the birth rate
by Sunday | Aug 2 | Economics WAEC
A. dependency is ratio high B. population is optimum C. active population is large D. population is growing according to Malthus theory Correct Answer: Option A – dependency is ratio high