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Economics Past Questions and Answers

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Waec Economics Questions

Question 201:

Money as a unit of account implies that it can be

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A Counted in units
B Use to facilitate exchange
C Used to measure the value of goods and services
D Used to store goods and services
E Used for future payment

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Question 202:

which of the following does not increase the population of country

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A An increase in birth rate
B A decrease in death rate
C Emigration
D Immigration
E Early marriage

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Question 203:

A stockholder partakes of the profit of a l8imited liability business by receiving

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A Shares
B Profit
C Wages and salaries
D Dividends
E Gifts

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Question 204:

Near Money is made up of

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A Very liquid asset which can be easily converted into money
B Currency in circulation and demand deposit
C Note and coins
D Fixed assets which cannot be converted into money
E The total money supplied in the economy

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Question 205:

Which of the following is not characteristics of a perfect competition ?

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A Many sellers and buyers are in the market
B There is perfect knowledge of the market situation
C Supply and demand are equal
D There is no discrimination
E Products are identical

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