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Economics WAEC Past Questions

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86
A firm that charges different price of goods or services that have same technical qualities is called
  • A. a perfect competitor
  • B. a monopsony
  • C. an oligopoly
  • D. a discriminating monopoly
  • E. a duopoly
View Answer & Discuss (1) WAEC 1990
87
A perfect market has all the following features except that
  • A. there are many buyers and few sellers
  • B. the commodities bought and sold are homogenous
  • C. there is free entry and exit
  • D. buyers and sellers have perfect knowledge of the market
  • E. there is only one ruling price
View Answer & Discuss (1) WAEC 1990
88
The purchasing power of the Naira will fall when
  • A. workers are retrenched
  • B. the colour of the naira is changed
  • C. the government cuts all salaries and wages
  • D. there is inflation
  • E. the naira is overvalued
View Answer & Discuss WAEC 1990
Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts
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89
Time deposit has the same meaning as
  • A. current account
  • B. demand deposit
  • C. deposit account
  • D. bank deposit
  • E. bank rate
View Answer & Discuss WAEC 1990
90
Which of the following best explain an inflationary situation at current price level?
  • A. Demand, supply
  • B. Demand supply
  • C. Demand = Supply
  • D. Demand/Supply
  • E. Demand = zero
View Answer & Discuss WAEC 1990
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