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Economics Past Questions and Answers

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Waec Economics Questions

Question 256:

the occupational distribution of population in most West African countries shows the highest concentration in

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A Agriculture and aalied industries
B Mining and manufacturing
C The distributive trade
D Commerce and industries
E Mining and services

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Question 257:

The growth of the population is the ?

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A Annual increase in population
B Total population of a country at a given time
C Addition to the total population over a given period
D Increase in the working population over a given period
E Percentage increase in population in a given year

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Question 258:

A situation in which an increase in demand for certain goods leads to a fall in demand for other goods is known as

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A Joint supply
B Derived demand
C Competitive demand
D Competitive supply
E Composite demand

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Question 259:

A market equilibrium exist when

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A Demand and supply are equal
B The market is large
C The price is fluctuating
D No buyer goes home empty-handed
E No seller has an unsold stock

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Question 260:

The price system is

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A The market price of commodities
B A market where a single price rules
C A system of price allocation to the products of the same firm
D A system of resource allocation through supply and demand interaction
E A system which the market price is determined only through haggling

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