Economics Past Questions And Answers
which of the following is a function of the retailer?
- A. provision of storage facilities
- B. financing manufacturers
- C. stocking variety of goods
- D. advertisement of goods
Given a market demand curve Q=120-2p and a supply curve Q = 4p, the equilibrium price and quantity respectively are?
- A. 20 and 80
- B. 30 and 120
- C. 40 and 60
- D. 60 and 240
Which of the following is capable of increasing the population of a country?
- A. increase in birth rate
- B. increase in death rate
- C. poor medical facilities
- D. decrease in birth rate
To enhance the competitiveness of domestic agricultural products, there is need to
- A. ban the importation of a agricultural products
- B. increase the exportation of agricultural products
- C. improve the quality of domestic agricultural products
- D. increase the output of domestic agricultural products
(a) What is crop farming? (2 marks)
(b) Outline anyfour measures that can be adopted to increase crop production in your country. (12 marks)
(c) State anytwo contributions of the industrial sector to agriculture in your country. (6 marks)
View Discussion (0)WAEC 2014 THEORYPalm oil and palm kernel have
- A. competitive supply
- B. excess supply
- C. joint supply
- D. composite supply
In market economy, the question of what, how and for whom to produce are solved the
- A. elected representative
- B. planning committee
- C. price mechanism
- D. government
An indicator of growth in an economy over a period of time is the
- A. GDP gap
- B. GDP at factor cost
- C. GDP at market price
- D. GDP deflator
Exclusions that makes Gross National Product a poor measure of welfare are?
- A. goverment purchases
- B. government millitary outlays
- C. wages and salaries
- D. house wives services
if in the graph, it is assumed that the price is initially P1, it can be deduced that price will

- A. fall because there is a surplus
- B. remain constant because it is the equilibrium price
- C. rise because there is a shortage
- D. double

