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Friday, 10 April 2026
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Economics Past Questions and Answers

Waec Economics Questions

Question 791:
One of the problems associated with the middlemen in the distribution of goods is that he
  • A Buys in large quantities
  • B Hoards goods
  • C Grants credit to the retailers
  • D Sells varieties of goods
View Answer & Explanation
Question 792:
The distribution of goods is said to be completed when it reaches the
  • A Wholesalers
  • B Consumers
  • C Retailers
  • D Manufacturers
View Answer & Explanation
Question 793:
The gap between demand and supply curve below the equilibrium price indicates
  • A Excess demand
  • B Excess supply
  • C Equilibrium quantity
  • D Equilibrium price
View Answer & Explanation
Question 794:
Demand for inferior goods is an example of
  • A Expansion of demand
  • B Contraction of demand
  • C Individual demand
  • D Abnormal demand
View Answer & Explanation
Question 795:
When a change in price does not affect the quantity demanded of a commodity , the price elasticity of demand is
  • A Fairly inelastic
  • B Infinitely elastic
  • C Perfectly inelastic
  • D Unitary elastic
View Answer & Explanation