by Sunday | Jan 8 | Economics WAEC
A. scarce B. unlimited C. free D. many Correct Answer: Option A A. scarce Explanation The basic problem of every society in any type of economic system, be it capitalist, socialist and mixed economy is choice and scarcity because resources are...
by Sunday | Jan 8 | Economics WAEC
A. 303 B. 30 C. 114 D. 33 Correct Answer: Option D D. 33 Explanation To find quantity demanded when p = ₦18 Qd = 7p – 12 7(18) – 12 126 – 12 Qd = 114units To find quantity supplies at ₦18 Qs = 4p + 9 4(18) + 9 Qs = 72 + 9 Qs = 81 units To find the...
by Sunday | Jan 8 | Economics WAEC
A. Freedom B. Scarcity C. Social class D. Politics Correct Answer: Option B B. Scarcity Explanation Every society is faced with the economic problem of choice and scarcity
by Sunday | Jan 8 | Economics WAEC
A. 208 B. 104 C. 54 D. 4 Correct Answer: Option B Explanation Terms of trade = (Index of export prices/Index of import prices) x 100 (106/102) x 100 = 103.9 ≈ 104
by Sunday | Jan 8 | Economics WAEC
A. there were 80,000 live births in the country B. there were 6,400 live births in the country C. there were 8 live births to every 100 women in working-class families D. 8 in every 1000 women of 21 – 45 gave birth to a live child Correct Answer: Option A A....