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Economics Past Questions and Answers

Waec Economics Questions

Question 616:

The responsiveness of demand to a change in income is the measurement of

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A Foreign exchange rate
B Cross elasticity of demand
C Income elasticity of demand
D Price index elasticity

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Question 617:

The upward slope of the supply curve indicates that

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A More will be supplied as price rises
B Less will be supplied as price rises
C Supply is not a function of price
D Supply is static and demand is dynamic

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Question 618:

monocultural agriculture means

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A The cultivation of seasonal crops
B The cultivation of one major crop
C Plantation agriculture
D Shifting cultivation

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Question 619:

Industries are not sited in most rural areas of Nigeria because ?

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A Of inadequate basic infrastructure
B They lack raw materials
C There is no appropriate government policy
D The climate is not conducive

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Question 620:

Which of the following business units can issue shares?

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A Sole trader
B Private limited companies
C Cenyral Banks
D Super market

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