Search SchoolNGR

Economics Past Questions and Answers

Waec Economics Questions

Question 1556:

A rightward shift in the supply curve of a commodity is brought about by an increase in?

SchoolNGR Classroom

A The level of technology
B The price of the commodity
C Cost of production
D Taxation

View Answer & Explanation

Question 1557:

Effective supply is the total amount of a commodity

SchoolNGR Classroom

A From a single producer
B In the warehouse of producers
C Offered for sale at a market place
D Produced for the market

View Answer & Explanation

Question 1558:

price elasticity of supply can be influenced by the following factors except?

SchoolNGR Classroom

A Time period
B Cost of production
C Size of consumer income
D Nature of the product

View Answer & Explanation

Question 1559:

increase in the supply of a product can be caused by?

SchoolNGR Classroom

A Change and taste and fashion of consumers
B Increase in the income of consumers
C A fall in the cost of production
D Increase in the price of a product

View Answer & Explanation

Question 1560:

a rational consumer will purchase a product whose price is?

SchoolNGR Classroom

A Greater than his marginal utility
B Less than his marginal utility
C Equal to his marginal utility
D Equal to his total utility

View Answer & Explanation

Stay Updated

Follow us on:

Subjects