Economics Past Questions And Answers
2741
Commodities I and II are
- A. competitive supply
- B. Substitute supply
- C. Joint supply
- D. Derived supply
2742
An inferior goods is one
- A. that is too bad for consumption
- B. whose price is lower than the price of other goods
- C. that is easily perishable
- D. whose demands fall when the income of its consumer increases
2743
Which of the following will occur when the market is unstable?
- A. Price will fluctuate
- B. Demand will remain static
- C. Unemployment will surely fall
- D. Price will remain static
2744
One of the functions of commercial banks is
- A. maintaining stable price in the economy
- B. regulating monetary policies
- C. granting loans to customers
- D. issuing bank notes and coins
2745
Location of firm in rural areas may
- A. enable the firm to enjoy existing infrastructural facilities
- B. make finance readily available
- C. enhance even or balanced development
- D. make such firm enjoy external economics of scale
2746
Concentrating industries in one place is advantageous because there are gains in terms of_____________
- A. cost economies
- B. economies of scale
- C. internal economies
- D. external economies
2747
The total fixed cost curve is
- A. horizontal
- B. upward sloping
- C. vertical
- D. downward sloping
2748
Write notes on each of the following:
(a) Savings account
(b) Current account
(c) Fixed deposit account.
View Discussion (0)WAEC 2003 THEORY2749
A rightward shift in the supply curve of a commodity is brought about by an increase in?
- A. the level of technology
- B. the price of the commodity
- C. cost of production
- D. taxation
2750
The production factor, whose entire world supply is fixed is
- A. land
- B. skilled labour
- C. capital goods
- D. entrepreneur