by Sunday | Jan 7 | Economics WAEC
Price (#) Quantity Demanded 8 10 6 12 A. -1.25 B. 0.62 C. 1.25 D. 1 Correct Answer: Option C C. 1.25 Explanation The elasticity of demand is calculated using: ρd = % Δ in P % Δ in Q NOTE: Elasticity of demand is always positive. Therefore, the negative sign is...
by Sunday | Jan 7 | Economics WAEC
A. have effect on the quantity demanded of the other B. have no effect on the quantity demanded of the other C. increase the quantity demanded on the other D. decrease the quantity demanded on the other Correct Answer: Option B B. have no effect on the quantity...
by Sunday | Jan 7 | Economics WAEC
A. Derived demand B. Joint demand C. Abnormal demand D. Composite demand Correct Answer: Option C C. Abnormal demand Explanation A normal demand curve slopes downward from left to right indication. Its lower price more will be demand but the Abnormal demand curve...
by Sunday | Nov 10 | Economics WAEC
A. Economic Commission for Africa (ECA) B. African Development Bank (ADB) C. World Health Organization (WHO) D. International Monetary Fund (IMF) Correct Answer: Option C C. World Health Organization (WHO)
by Sunday | Nov 10 | Economics WAEC
A. Cape Verde B. Mauritania C. Cameroon D. Niger Correct Answer: Option C C. Cameroon