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Economics Past Questions and Answers

Waec Economics Questions

Question 861:
The profit of the producers can be calculated as the
  • A Total cost less total revenue
  • B Average revenue less average cost
  • C Total revenue less total cost
  • D Marginal revenue less marginal cost
View Answer & Explanation
Question 862:
The direct exchange of one goods for another without the use of money is known as
  • A Foreign exchange
  • B Exchange rate
  • C Expenditure rate
  • D Barter
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Question 863:
Acceptability, durability, homogeneity and portability are all attributes of good
  • A Markets
  • B Money
  • C Banks
  • D Government
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Question 864:
The term demand for money means
  • A Desire to borrow money from people
  • B Desire of an individual to invest all his money in projects
  • C Willingness of people to hold money
  • D Wilingness of people to keep all their resources in assets
View Answer & Explanation
Question 865:
A persistent and appreciable rise in the general level of price is known as
  • A Depreciation
  • B Inflation
  • C Deflation
  • D Production
View Answer & Explanation