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Economics 1994 WAEC Past Questions

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11
If a person supplements his current income by drawing on past savings in order to make both ends meet, he is said to be living
  • A. good life
  • B. an average life
  • C. on his savings
  • D. a reckless life
  • E. on borrowed money
View Answer & Discuss WAEC 1994
12
Which of the following is not a set of measures of central tendency?
  • A. Mode and Median
  • B. mean and median
  • C. Mean and mode
  • D. Median and percentage
  • E. Mode, mean and median
View Answer & Discuss WAEC 1994
13

Which of the following pairs can be referred to as middlemen?

  • A. wholesalers and agents
  • B. Retailers and consumers
  • C. Consumers and agents
  • D. Wholesalers and retailers
  • E. Wholesalers and consumers
View Answer & Discuss (1) WAEC 1994
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14
Mono-products economics are those that
  • A. have a rich culture heritage
  • B. produce only raw materials
  • C. live on the exportation of their raw products
  • D. produce one main commodity
  • E. specialize in agricultural industries
View Answer & Discuss WAEC 1994
15
A Nigerian household demand curve for semovita is downward sloping because
  • A. the demand for semovita is high
  • B. the local markets are flooded with semovita
  • C. semovita is produced in Nigeria
  • D. every household can afford to buy semovita
  • E. the higher the price of semovita, the lower the quantity demanded
View Answer & Discuss WAEC 1994
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