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Economics Past Questions and Answers

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Waec Economics Questions

Question 616:
WAEC 2001
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
View Answer & Explanation
Question 617:
WAEC 2001
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
View Answer & Explanation
Question 618:
WAEC 2001
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
View Answer & Explanation
Question 619:
WAEC 2001
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
View Answer & Explanation
Question 620:
WAEC 2001
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
View Answer & Explanation

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