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Economics WAEC Past Questions

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Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts
1036

Which of the following problems arises where there are more than one technically possible methods of production

  • A. Where to produce
  • B. for whom to produce
  • C. how to produce
  • D. what to produce
View Answer & Discuss WAEC 2012
1037

Visible balance is also known as

  • A. terms of trade
  • B. balance of payments
  • C. balance of trade
  • D. capital balance
View Answer & Discuss WAEC 2012
1038

A shift in the demand curve indicates

  • A. exceptional demand
  • B. change in demand
  • C. change in quantity demanded
  • D. elasticity of demand
View Answer & Discuss (3) WAEC 2012
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1039

If a 6% decrease in price results in more than 6% decrease in quantity supplied, supply can be regarded as

  • A. elastic
  • B. unitary elastic
  • C. perfectly inelastic
  • D. perfectly elastic
View Answer & Discuss WAEC 2012
1040

A condition for consumer utility maximization is

  • A. equality of the ratio of marginal utilities and the ratio of prices
  • B. equality of the ratio of average utilities and the ratio of prices
  • C. equality of the marginal utility to total utility ratio for both commodities
  • D. total utility and marginal utility must be zero
View Answer & Discuss WAEC 2012
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