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Economics 1990 WAEC Past Questions

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6

All the following factors will cause a change in demand except

  • A. the consumer's income
  • B. the consumer's taste
  • C. a change in population size
  • D. a change in weather condition
  • E. the price of commodity
View Answer & Discuss (2) WAEC 1990
7
A rational consumer tends to do all the following except
  • A. buying more at a high price than at a low price
  • B. buying more at a low price than at a high price
  • C. buying at utility maximization
  • D. reacting to price changes
  • E. complying with the law of demand
View Answer & Discuss WAEC 1990
8
A firm that charges different price of goods or services that have same technical qualities is called
  • A. a perfect competitor
  • B. a monopsony
  • C. an oligopoly
  • D. a discriminating monopoly
  • E. a duopoly
View Answer & Discuss (1) WAEC 1990
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9
A perfect market has all the following features except that
  • A. there are many buyers and few sellers
  • B. the commodities bought and sold are homogenous
  • C. there is free entry and exit
  • D. buyers and sellers have perfect knowledge of the market
  • E. there is only one ruling price
View Answer & Discuss (1) WAEC 1990
10
The purchasing power of the Naira will fall when
  • A. workers are retrenched
  • B. the colour of the naira is changed
  • C. the government cuts all salaries and wages
  • D. there is inflation
  • E. the naira is overvalued
View Answer & Discuss WAEC 1990
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