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Wednesday, 01 July 2026
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Economics Past Questions and Answers

Economics Questions

Question 3616:
WAEC 2017
Effective supply is the total amount of a commodity
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  • A From a single producer
  • B In the warehouse of producers
  • C Offered for sale at a market place
  • D Produced for the market
View Answer & Explanation
Question 3617:
WAEC 2017
price elasticity of supply can be influenced by the following factors except?
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  • A Time period
  • B Cost of production
  • C Size of consumer income
  • D Nature of the product
View Answer & Explanation
Question 3618:
WAEC 2017
increase in the supply of a product can be caused by?
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  • A Change and taste and fashion of consumers
  • B Increase in the income of consumers
  • C A fall in the cost of production
  • D Increase in the price of a product
View Answer & Explanation
Question 3619:
WAEC 2017
a rational consumer will purchase a product whose price is?
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  • A Greater than his marginal utility
  • B Less than his marginal utility
  • C Equal to his marginal utility
  • D Equal to his total utility
View Answer & Explanation
Question 3620:
WAEC 2017
parallel markets are usually the results of
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  • A Excess supply
  • B The activities of rich individuals
  • C Price legislation
  • D Inadequate information
View Answer & Explanation

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