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Economics 1995 WAEC Past Questions

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16
The effect of an increase in price on the demand for a commodity with elastic demand will be
  • A. an increase in the demand for the commodity
  • B. a decrease in the demand for the commodity
  • C. a further increase in the price of the commodity
  • D. reduction in the number of the distributors of the commodity
  • E. a general increase in the cost of the production
View Answer & Discuss WAEC 1995
17
In perfect competition , the marginal cost curve intersects the average cost curve
  • A. from below at its lowest point
  • B. from above at its lowest point
  • C. from below before the lowest point
  • D. at the zero point
  • E. from below after the lower point
View Answer & Discuss WAEC 1995
18
Which of the following does not require the use of information from census?
  • A. allocating central government revenue among states or regions
  • B. planning for development in the states of regions
  • C. Demarcating constituencies for election in the states or regions
  • D. providing adequate social amenities and services in the states or regions
  • E. Controlling geographical mobility of labour among the states or regions
View Answer & Discuss WAEC 1995
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19
Which of the following is not a function of an insurance company?
  • A. Mobilization of funds through premiums collected
  • B. Encouragement of savings habits through life assurances
  • C. Collection of deposits from the public
  • D. Granting of loans on long-term basis for investment
  • E. Encouragment of investment by security of capital
View Answer & Discuss WAEC 1995
20
Malthus observed in his theory that population was growing
  • A. at a regular rate
  • B. in arithmetical progression
  • C. in geometrical progression
  • D. in mathematical progression
  • E. in trigonometrical progression
View Answer & Discuss WAEC 1995
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