Economics Past Questions And Answers
Hoarding in distributive trade leads to
- A. non-availabilty of commodities
- B. production of inferior goods
- C. increase in the supply of goods
- D. artificial scarcity of goods
The population of Oh-aha L.G.A. WAS 480 000 in December 1980, out of which 60% were females . If within one year no birth were recorded, but 5% of the L.G.A. in December 1981?
- A. 96 000
- B. 192 000
- C. 288 000
- D. 470 400
In which of the following economic system do we have mostly private ownership of resources and individual decision making?
- A. Capitalist system
- B. Socialist system
- C. Mixed system
- D. Traditional system
When elasticity is zero, the demand curve is_____________
- A. circular
- B. downward sloping
- C. perfectly inelastic
- D. concave
The major factor that causes fluctuations in the supply of agricultural produce is?
- A. high price
- B. pests
- C. weather variations
- D. rural-urban migration
Data presented in tables are usually arranged in
- A. charts and graphs
- B. rows and columns
- C. graph and rows
- D. columns and charts
(a) Outline any three disadvantages of monopoly
(b) In what two ways can monopoly be controlled?
View Discussion (0)WAEC 2007 THEORYIf Mr .K obtains a N50.000 loan from a bank for the purpose of providing household needs, the demand for money is said to be
- A. transactionary
- B. speculative
- C. precautionary and speculative
- D. transactional and speculative
The best channel of distribution of baked bread is through?
- A. wholesalers to retailers then to consumers
- B. direct sales to consumers
- C. wholesalers to consumers
- D. retailers to consumers
The Malthusian theory of population has been rendered ineffective by
- A. government policies
- B. natural disasters
- C. birth control measures
- D. technical progress