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Economics Past Questions and Answers

Waec Economics Questions

Question 1391:

Examples of joint stock banks are

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A Commercial banks
B Co-operative credit societies
C Central banks
D Development banks

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Question 1392:

Which of the following is not a characteristic of a developing country? High

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A Real per capita income
B Level of primary production
C Population growth rate
D Level of illiteracy

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Question 1393:

Goods consumed out of habit have

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A Elastic demand
B Perfectly elastic demand
C Inelastic demand
D Unitary elastic demand

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Question 1394:

If the coefficient of price elasticity of demand is 0.1, demand is

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A Elastic
B Inelastic
C Zero elastic
D Unitary elastic

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Question 1395:

The profit of a producer is the difference between

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A Total cost and marginal cost
B Total revenue and total cost
C Average cost and total cost
D Price and total cost

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