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Economics Past Questions and Answers

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Waec Economics Questions

Question 406:

The outward shift to the production possibility curve could be due to

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A Military conquest
B Increased money supply
C Inflation
D Economic growth
E Massive importation

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Question 407:

which of the following is not true of a firm in equilibrium condition in perfect competition?

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A MC is rising
B MC curves cuts AC curves from below
C MR>AR
D MC = AC
E MR = AR

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Question 408:

Hoarding in distributive trade leads to

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A Non-availabilty of commodities
B Production of inferior goods
C Increase in the supply of goods
D Decrease in the supply of goods
E Artificial scarcity of goods

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Question 409:

Hoarding in distributive trade leads to

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A Non-availabilty of commodities
B Production of inferior goods
C Increase in the supply of goods
D Decrease in the supply of goods
E Artificial scarcity of goods

View Answer & Explanation

Question 410:

If an economy grows at an annual rate of 6% of which 4% is deemed to be due to improvement in the productivity of labour and capital combined ,the remaining 2% is generally attributed to the

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A Amount of natural resources
B Improvement in banking services
C Size of the population
D Quality of human resources
E Improvement in government fiscal policies

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