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Economics Past Questions

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1681
The magnitude of the national income of a country depends on all the following except the
  • A. quantity of natural resources available
  • B. level of technical know-how
  • C. mobility of labour
  • D. level of productivity
  • E. quality and quantity of factors of production
View Answer & Discuss WAEC 1994
1682
The Quantity Theory of Money state that an increase in the quantity of money would bring about
  • A. a geometrical rise in price
  • B. an unequal rise in prices
  • C. a proportionate rise in prices
  • D. an absolute rise in prices
  • E. a less that proportionate increase in prices
View Answer & Discuss WAEC 1994
1683
Under the ECOWAS agreement, a Nigerian can enter and stay in Ghana without a visa for a period of
  • A. 14 days
  • B. 30 days
  • C. 60 days
  • D. 90 days 100 days
View Answer & Discuss (3) WAEC 1994
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1684
Economics is a social science which studies how
  • A. to redistrubute income
  • B. human beings behave
  • C. the market price is fixed
  • D. scarce resources are allocated to satisfy human wants
  • E. high cost of a commodity
View Answer & Discuss WAEC 1995
1685
Scarcity in economics means
  • A. shortage of commodity
  • B. unlimited demands for consumer goods
  • C. limited supply of goods and services
  • D. total absence of a commodity in the market
  • E. high cost of a commodity
View Answer & Discuss WAEC 1995
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