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Economics 2010 WAEC Past Questions

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6
Which of the following causes the demand curve to shift to the right?
  • A. a reduction in size of population
  • B. an increase in the income of the buyer
  • C. the availability of substitutes
  • D. a decrease in price of goods
View Answer & Discuss WAEC 2010
7
Goods for which demands rises as income rises are
  • A. complementary goods
  • B. inferior goods
  • C. normal goods
  • D. substitutes
View Answer & Discuss (1) WAEC 2010
8
The slope of a supply curve is
  • A. horizontal
  • B. uniform
  • C. positive
  • D. vertical
View Answer & Discuss (2) WAEC 2010
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9
Equilibrium price is the price at which quantity
  • A. demand greater than quantity supplied
  • B. supplied is greater than quantity demanded
  • C. demand is equal to quantity supplied
  • D. supplied equals quantity produced
View Answer & Discuss WAEC 2010
10
A decrease in supply with demand remaining unchanged will cause the equilibrium price for a good to
  • A. be unchanged
  • B. remain elastic
  • C. remain inelastic
  • D. rise
View Answer & Discuss WAEC 2010
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