Waec 2000 Economics Past Questions And Answers
census of population is usually conducted every
- A. 20 years
- B. 15 years
- C. 10 years
- D. 7 years
The income elasticity of a normal goods is
- A. positive
- B. negative
- C. zero
- D. fixed
one economic implication of over-population is that it
- A. leads to low demand s of goods
- B. reduce balance of payment difficulties
- C. leads to a fall in per capital income
- D. reduce pressure on the available social facilities
An industry can best be described as
- A. a place where goods are processed
- B. a place where different firms produced different goods
- C. an aggregation of indidvidual firms producing similar commodities
- D. the concentration of various firm in the same locality
(a) What is mobility of labour?
(b) What factors serve as obstacles to occupational mobility of labour?
View Discussion (0)WAEC 2000 THEORYHassan , an economic teacher in Lagos, resigned his appointment and took yup another job as a banker . The The concept here involves
- A. occupational mobility of labour
- B. horozontal mobility of labour
- C. vertical mobility of labour
- D. geographical mobility of labour
The pie chart here represents the hypothetical output of farmers in a country in a particular year. The total output of the crops was 72,000 tonnes.
(a) Calculate the quantity of each product.
(b) (i) By what quantity is the export crops greater than the food crops?
(ii) Which crop contributed the least and by what quantity?
(iii) Which crop has the highest output?
Wages are to some extent, determined by the
- A. Marginal utility of labour
- B. average utility of labour
- C. marginal productivity of labour
- D. total output of labour
When commodity X sold for N25 per unit, 50 units of commodity Y were purchased. With an increase in the price of commodity X to N50 per unit, the demand for commodity Y fell to 20 units.
The two commodities can be classified as?
- A. Substitutes
- B. durable and non-durable
- C. intermediate and final
- D. complements
The maximum amount of money a company is allowed to raise by issuing shares to the public is called
- A. paid-up capital
- B. fixed capital
- C. working capital
- D. authorized capital