Economics Past Questions And Answers
Human development can be improved if
- A. banks give more loans to businessmen
- B. large family sizes are encouraged
- C. general education and training are encouraged
- D. it is handled by the private sector only
The marginal productivity theory applies in a
- A. unionized labour market
- B. perfectly competitive market
- C. monopsonistic market only
- D. monopolistic market only
If the arithmetic mean of 1,2,3,4,5,6,x, 16 and 18 is 8.0, find the value of x?
- A. 7.0
- B. 6.0
- C. 8.5
- D. 17.0
Social overhead capital refers to?
- A. balanced growth
- B. gross investment
- C. the building of infrastructures
- D. capital formation
A non-bank financial intermediary which is regarded as a pool of risks is the
- A. co-operative society
- B. stock exchange
- C. insurance company
- D. post office
The cross-elasticity of demand between complementary goods is?
- A. unitary
- B. positive
- C. zero
- D. negative
Consider the table which shows output (o), total cost (TC)of production and marginal cost (MC) for a firm in a competitive market. Suppose price (P) = N 12, what is the maximum profit the firm can make ?
- A. N2000.00
- B. 1200.00
- C. 1000.00
- D. 400.00
(a) Define optimum population.
(b) In whatthree wayscan rapid population growth slow down the rate of economic development?
(c) Describe any three measures that can be adopted to control rapid population growth.
View Discussion (0)WAEC 2018 THEORYTrade takes place because of
- A. marginal utility
- B. inefficiency in production
- C. opportunity cost
- D. comparative advantage
Which of the following items is not considered as a transfer payment?
- A. Pension pay
- B. Government subsidy
- C. Students' grant
- D. Doctor's salary