Search SchoolNGR

Monday, 09 November 2026
Register . Login

Economics Past Questions and Answers

Waec Economics Questions

Question 411:
when the government imposes a unit tax on a commodity with perfectly inelastic demand , the
  • A Tax is borne entirley by the seller
  • B Tax is shared equally between the buyer and the seller
  • C Seller bears 70% and the consumer bears 30% of the tax
  • D Tax is borne entirely by the consumer
  • E Tax is borne by nobody
View Answer & Explanation
Question 412:
Free Trade means
  • A Producers are free to determine their prices
  • B Market forces are allowed to determine prices
  • C Non-restriction of international trade
  • D Goods are to be sold free of charge
  • E People are free to buy in foreign countries
View Answer & Explanation
Question 413:
In a public company , entrepreneural function are performed by the
  • A Workers
  • B Shareholders
  • C Creditors
  • D Board of directors
  • E Chairman
View Answer & Explanation
Question 414:
Term of trade is the
  • A Ratio of capital movement to export movements
  • B Ratio of import to short-term export
  • C Difference between export and import
  • D Ratio of short-term capital movement to long-term capital movements
  • E Ratio of index of export prices to index of import prices
View Answer & Explanation
Question 415:
Tariff can be define as a compulsory levy on
  • A Goods that are produced and consumed locally
  • B Foreign exchange earnings
  • C Imported but inferior goods
  • D Foreigners working in a country
  • E Imports and exports
View Answer & Explanation