Search SchoolNGR

Economics Past Questions and Answers

Waec Economics Questions

Question 1021:

production covers all the following except when

SchoolNGR Classroom

A Utility is created
B A good is manufactured
C A commodity is consumed
D Individual wants are satisfied

View Answer & Explanation

Question 1022:

Data presented in tables are usually arranged in

SchoolNGR Classroom

A Charts and graphs
B Rows and columns
C Graph and rows
D Columns and charts

View Answer & Explanation

Question 1023:

The theory of diminishing marginal utility states that as more units of a commodity are consumed , the

SchoolNGR Classroom

A Satisfaction from an extra unit decreases
B Satisfaction from an extra unit rises
C Satisfaction from an extra units remains constant
D Total satisfaction from the goods remains the same

View Answer & Explanation

Question 1024:

which of the following factors does not cause a change in demand

SchoolNGR Classroom

A Taste and fashion
B Vagaries of weather
C Price of other commodities
D Price of commodity

View Answer & Explanation

Question 1025:

If good P and Q are jointly demanded, an increase in the price of P will likely

SchoolNGR Classroom

A Leave the demand for Q constant but reduce the quantity demanded of P
B Reduce the quantity of P but increase the Price of Q
C Increase the quantity supplied of Q
D Decrease the quantity demanded of Q

View Answer & Explanation

Stay Updated

Follow us on:

Subjects