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Economics WAEC Past Questions

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1331

If the price of floor rises, then bread

  • A. demand curve will shift to the left while supply curve will shift to the right
  • B. supply curve will shift to the left
  • C. supply curve will shift to the right
  • D. demand curve will shift to the right while supply curve remains unchanged
View Answer & Discuss (3) WAEC 2015
1332

which of the following is not a reason for abnormal demand

  • A. price of the commodity
  • B. goods of ostentation
  • C. giffen goods
  • D. rare commodity
View Answer & Discuss (4) WAEC 2015
1333

increase in production subsidies will shift 

  • A. the demand curve to the left
  • B. the supply curve to the right
  • C. both the supply demand curves to the left
  • D. supply curve to the left and demand curve to the right
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1334

The market supply curve slopes upward from left to right indicating that?

  • A. producers pay high taxes
  • B. two commodities can be supplied at the same time
  • C. at a lower price, less is supplied
  • D. at a lower price, more is supplied and demanded
View Answer & Discuss WAEC 2015
1335

if a given change in price brings a proportionately larger change in quantity demanded, the

  • A. demand is relatively price elastic
  • B. demand is relatively price inelastic
  • C. price elasticity of demand is unitary
  • D. price elasticity of demand is constant
View Answer & Discuss WAEC 2015
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