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Economics 1995 WAEC Past Questions

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6
Which of the following does not encourage the location of industries?
  • A. Nearness to the market
  • B. Availability of infrastructural facilities
  • C. Government influence in sitting industries
  • D. political instability
  • E. Abundance of cheap labour
View Answer & Discuss WAEC 1995
7
All the under listed factors directly affects the supply of a commodity except
  • A. price
  • B. improved production method
  • C. access to capital
  • D. demand for the commodity
  • E. level of income
View Answer & Discuss WAEC 1995
8
which of the following economic system is in operation in Nigeria?
  • A. Capitalist economy
  • B. Socialist cum Maxist economy
  • C. Socialist economy
  • D. Capitalist and free economy
  • E. mixed economy
View Answer & Discuss WAEC 1995
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9
Giffen commodities are those commodities
  • A. which gives rise to a cobweb situation
  • B. for which demand increases as price increases
  • C. which have a low price elasticity of demand
  • D. which are in short supply
  • E. which have a high income elasticity of demand
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10
Effective demand in economics means
  • A. the desire for a commodity
  • B. a proposal to purchase a good on credit
  • C. the desire for a commodity or service backed by purchasing power
  • D. an irrevocable instruction to the seller to meet up the need of the buyers
  • E. the propensiyt to consume googd produced by manufacturers
View Answer & Discuss WAEC 1995
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