WAEC - Economics (2017)
1
Economics is regarded as a science because?
پاسخ دهید(B)
it adopts scientific methods in making its analysis
2
the opportunity cost of a worker going to the university is
پاسخ دهید(C)
the wages given up to attend the university
3
which of the following items is not an example of circulating capital
4
in a market economy, the problem of what goods to produced is solved primarily by
پاسخ دهید(B)
the pattern of consumers spending
5
if the weight of five puppies in kilograms are 3.5, 3.0, 4.2, 5.0 and 4.3, then mean weight of the puppies is?
6
if the coefficient of cross elasticity of demand for goods Y and Z is positive, the two goods are?
7
The difference between demand and wants is in the
پاسخ دهید(C)
ability to pay for the commodity
8
A demand curve parallel to the Y-axis indicates
9
which of the following is an example of derived demand
10
A rightward shift in the supply curve of a commodity is brought about by an increase in?
پاسخ دهید(B)
the price of the commodity
11
Effective supply is the total amount of a commodity
پاسخ دهید(C)
offered for sale at a market place
12
price elasticity of supply can be influenced by the following factors except?
13
increase in the supply of a product can be caused by?
پاسخ دهید(C)
a fall in the cost of production
14
a rational consumer will purchase a product whose price is?
پاسخ دهید(C)
equal to his marginal utility
15
parallel markets are usually the results of
16
Another term for equilibrium price is?
17
when a firm is enjoying internal economies of scale, its?
پاسخ دهید(C)
average cost of production decreases as output increases
18
The specialization of labour enhances production because people?
پاسخ دهید(D)
become experts in all areas of production
19
which of the following can be added to a firm's profit to obtain total revenue
20
The amount of money that a firm recieves from the sales of its output is called
21
which of the following is trueof the monopolist
پاسخ دهید(B)
He determines both price and output
22
Equity shares form the bulk of the capital of a?
23
if a state owned firm is sold through the stock market, the organisation becomes?
24
The total number of people of working age who are willing and prepared to work at a given wage rate is the
25
A civil engineer who accepts to teach elementary science in a primary school because he cannot get a paid engineering job is an example of?
26
which of the following is an implication of a large population
پاسخ دهید(C)
decrease in standard of living
27
The system of agriculture which involves the cultivation of crops and rearing of animals for family consumption only is termed?
28
which of the following is a threat to the existence of middlemen
پاسخ دهید(A)
consumers cooperative society
29
which of the following is a threat to the existence of middlemen
پاسخ دهید(A)
consumers cooperative society
30
in an industrial area, the location of industries is particularly influenced by ?
31
which of the following is a transfer income
32
the value added method used in measuring national income is to
پاسخ دهید(D)
add net factor income from abroad
33
which of the following is most likely to be of benefit to a debtor
34
A measure of the value of money in an economy is the
35
one of the major functions of money is?
36
The function that distinguishes commercial banks from the central bank is that the former
پاسخ دهید(B)
accepts deposits from the public
38
The control of aggregate demand through changes in government spending and tax rates is referred to as?
39
which of the following is not a feature of economic underdevelopment
40
one way of speeding up the economic development of a country is by encouraging
41
Dumping in international occurs when a foreign firm sells
پاسخ دهید(D)
below its cost of production in a foreign market
42
Infant industries can be described as?
پاسخ دهید(A)
newly established industries
43
Modern international trade is based on the principle of?
44
which of the following terms of trade is recorded in a country's current account section of the balance of payments
45
one problem facing the economic integration of countries in west Africa is the
پاسخ دهید(B)
uneven development among west African countries
