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

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2751

Where a commodity takes an insignificant proportion of the consumer's income, demand for it will be

  • A. unitary elastic
  • B. price inelastic
  • C. fairly elatic
  • D. income inelastic
View Answer & Discuss (1) WAEC 2012
2752

A demand schedule shows the quantities of goods that are

  • A. bought at given price at a time
  • B. supplied at given prices at a time
  • C. produced at given prices at a time
  • D. reserved for future consumption
View Answer & Discuss (2) WAEC 2012
2753

The demand curve for a commodity is downward sloping because the consumer will pay

  • A. less as the marginal utility falls
  • B. more as the marginal utility falls
  • C. less as the total utility falls
  • D. more as the average utility falls
View Answer & Discuss WAEC 2012
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2754

A decrease in the demand for a product X resulted in a decrease in the demand for another product Y. The demand for X and Y is

  • A. derived
  • B. composite
  • C. joint
  • D. competitive
View Answer & Discuss WAEC 2012
2755

Any price below the equilibrium price will lead to

  • A. increase in supply
  • B. excess demand
  • C. equality of demand and supply
  • D. decreases in demand
View Answer & Discuss WAEC 2012
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Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts
WAEC and NECO CBT Software for Computers and Laptops - Candidates, Schools, Centres, Resellers - 100% Offline -Download Now