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Economics Past Questions and Answers

Waec Economics Questions

Question 846:
A group of firm producing similar commodities for the same market constitute
  • A A cartel
  • B An industry
  • C A co-operative
  • D Wholesaler
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Question 847:
a factor that has slowed down the rate of industrial development in West Africa is
  • A Inadequate technology
  • B Increasing rate of manpower production
  • C Increased demand for local goods
  • D Intervention of the government in business activities
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Question 848:
To achieve an equilibrium position, the consumer must buy so much of each commodity whose price is equal to its
  • A Marginal utility
  • B Total utility
  • C Average utility
  • D Variable utility
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Question 849:
Price control refers to
  • A The way of making more goods available in the market
  • B A policy of ensuring stable price in the market
  • C A general reduction in the price level
  • D Effective working of the forces of demand and supply
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Question 850:
The desire for goods without the ability to pay is called
  • A Choice
  • B Effective demand
  • C Joint demand
  • D Wants
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