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Economics Past Questions

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4331

The leftward shift in the supply curve for a commodity indicates_________

  • A. An increase in quantity supplied
  • B. A decrease in supply.
  • C. A reduction in quantity supplied.
  • D. An increase in supply.
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4332

Market supply may increase if there is an increase in the________

  • A. Price of the product
  • B. Prices of factors of production.
  • C. Tax paid on raw materials
  • D. Subsidies on raw materials.
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4333

Government can increase farmers' incomes by__________

  • A. Fixing maximum prices.
  • B. Fixing minimum prices.
  • C. Encouraging them to produce surplus output.
  • D. Increasing taxes on inputs.
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WAEC offline past questions - with all answers and explanations in one app - Download for free
WAEC Past Questions, Objective & Theory, Study 100% offline, Download app now - 24709
Download WAEC May/June App - Get all past questions and answers, 100% offline - 43208
4334

When market supply increases , the equilibrium price_________

  • A. Rises and quantity falls.
  • B. Falls and quantity rises.
  • C. And quantity increase
  • D. And quantity fall.
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4335

The supply of mangoes is represented as P=0.3Q, where P is the price ($) and Q is the quantity. What is P when Q is 50?

  • A. $1.50
  • B. $15.00
  • C. $150.03
  • D. $166.67
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Download WAEC May/June App - Get all past questions and answers, 100% offline - 43208
WAEC Past Questions, Objective & Theory, Study 100% offline, Download app now - 24709
WAEC offline past questions - with all answers and explanations in one app - Download for free