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Economics Past Questions and Answers

Waec Economics Questions

Question 1181:
One disadvantages of direct taxes is that they
  • A Allocate scarce resources
  • B Are not rigid
  • C Can be progressive
  • D Can be evaded
View Answer & Explanation
Question 1182:
Excise duty is levied on
  • A The total population
  • B Local products
  • C Luxury goods
  • D The working population
View Answer & Explanation
Question 1183:
A component of the national debt of a country is
  • A Taxation
  • B Bank saving
  • C The budget
  • D Treasury bills
View Answer & Explanation
Question 1184:
When the demand for a good is fairly inelastic, the burden of an indirect tax falls
  • A More on the consumers of the goods
  • B More on the sellers of the goods
  • C On sellers and consumers equally
  • D Completely on the capital
View Answer & Explanation
Question 1185:
Dumping means the selling of a good in a foreign market at a price that is
  • A Below the home market price
  • B Above the home market price
  • C Equal to the home market price
  • D Able to clear the home market price
View Answer & Explanation