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Economics Past Questions and Answers

Waec Economics Questions

Question 906:
middlemen in an economy perform the function of
  • A Distribution
  • B Exchange
  • C Hoarding
  • D Protector
View Answer & Explanation
Question 907:
one of the factors affecting geographical distribution of population is
  • A High birth rate
  • B High death rate
  • C Encouragement of early marriage in the rural area
  • D Climate conditions of the different parts of the country
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Question 908:
Standardization of products or services is a feature of
  • A Large firms
  • B Retailer
  • C Small firms
  • D Wholesaler
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Question 909:
The amount of satisfaction obtained from the consumption of a commodity at a particular time is called
  • A Marginal utility
  • B Diminishing return
  • C Total utility
  • D Average utility
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Question 910:
what are inferior goods? These are goods
  • A That are generally in short supply
  • B That are no longer in demand
  • C Whose demand falls as income increase
  • D Whose price falls as demand increases
View Answer & Explanation