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2021
A market equilibrium exist when
  • A. no buyer goes home empty-handed
  • B. demand and supply are increasing
  • C. demand and supply are equal
  • D. the price is fluctuating
View Answer & Discuss WAEC 2002
2022
The incidence of an increase in tax on a commodity with perfectly inelastic demand will be on the
  • A. wholesaler
  • B. retailer
  • C. government
  • D. consumer
View Answer & Discuss WAEC 2002
2023
Budget surplus implies that
  • A. expenditure equals revenue
  • B. expenditure is less than revenue
  • C. expenditure is greater than taxation
  • D. direct tax is more than indirect tax
View Answer & Discuss WAEC 2002
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2024
International trade is based on the law of
  • A. absolute cost advantage
  • B. variable proportion
  • C. comparative cost advantage
  • D. mutual co-operation
View Answer & Discuss WAEC 2002
2025
Terms of trade is used to describe
  • A. the quality of exports
  • B. the direction of foreign trades
  • C. purchases on deferred payment basis
  • D. the rate at which exports exchange for imports
View Answer & Discuss WAEC 2002
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