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Economics 1988 WAEC Past Questions

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36
The term marginal propensity to consume can best be explained as the
  • A. Desire to spend more income on consumption
  • B. Change in consumption as a percentage of change in income
  • C. Average regularly spend on consumption
  • D. Total expenditure on consumption
  • E. Inclination to spend only a little on consumption
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37
Subsistence farming means producing food
  • A. Mainly for the need of our immediate and extended family
  • B. Crops for sale mainly
  • C. Crops mainly for export
  • D. To feed the community around
  • E. In order to satisfy the government directives
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38

What has the government done to encourage industrialization in Nigeria? 

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39

(a) What is demand- pull inflation?
(b) Why is price control not suitable in checking this type of inflation?

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40

 (a) Briefly outline the views of Thomas Malthus about population.
(b) How valid are such views about the Nigerian situation today?

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