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Economics 2005 WAEC Past Questions

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26
The profit of the producers can be calculated as the
  • A. total cost less total revenue
  • B. average revenue less average cost
  • C. total revenue less total cost
  • D. marginal revenue less marginal cost
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27
The direct exchange of one goods for another without the use of money is known as
  • A. foreign exchange
  • B. exchange rate
  • C. expenditure rate
  • D. barter
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28
Acceptability, durability, homogeneity and portability are all attributes of good
  • A. markets
  • B. money
  • C. banks
  • D. government
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29
The term demand for money means
  • A. desire to borrow money from people
  • B. desire of an individual to invest all his money in projects
  • C. willingness of people to hold money
  • D. wilingness of people to keep all their resources in assets
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30
A persistent and appreciable rise in the general level of price is known as
  • A. depreciation
  • B. inflation
  • C. deflation
  • D. production
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