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Economics Past Questions and Answers

Waec Economics Questions

Question 1611:
WAEC 2018
an exceptional demand curve can result from?
SchoolNGR Classroom
  • A Increase in prices of raw materials
  • B Increase in the size of the population
  • C Expectation of future price increase
  • D Change in taste of the consumer
View Answer & Explanation
Question 1612:
WAEC 2018
palm oil and palm kernel are in?
SchoolNGR Classroom
  • A Joint supply
  • B Competitive demand
  • C Competitive supply
  • D Complementary demand
View Answer & Explanation
Question 1613:
WAEC 2018
which of the following is true about supply of land?
SchoolNGR Classroom
  • A Its higher in the urban than rural areas
  • B Varies with time
  • C Rises with demand
  • D Is fixed
View Answer & Explanation
Question 1614:
WAEC 2018
the backward bending supply curve of labour indicates?
SchoolNGR Classroom
  • A An abnormal supply situation
  • B The law of supply
  • C That labour supply and wage are directly related
  • D That the elasticity of supply is uniform
View Answer & Explanation
Question 1615:
WAEC 2018
A supply curve parallel to the X- axis indicates?
SchoolNGR Classroom
  • A Fairly elastic supply
  • B Infinitely elastic supply
  • C Fairly inelastic supply
  • D Perfectly inelastic
View Answer & Explanation

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