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4641

Petrol and Kerosene are jointly obtained from crude oil. If the supply of petrol increases, the

  • A. cost of crude oil production has increased
  • B. supply of kerosene will rise
  • C. supply of kerosene will remain unchanged
  • D. supply of kerosene will fall
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4642

The fixing of maximum prices by government is mainly on

  • A. imported capital goods
  • B. inferior goods
  • C. selected essential goods
  • D. luxury goods
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4643

When more of tax on a product is borne by the buyer than the seller, the commodity involved has

  • A. perfectly elastic demand
  • B. perfectly inelastic demand
  • C. fairly inelastic demand
  • D. elastic demand
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4644

The marks obtained by 9 students in a class test are recorded below: 9, 8, 7, 5,7, 6, 8, 9 and 7. What is the median mark?

  • A. 7
  • B. 8.5
  • C. 8
  • D. 7.5
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4645

Tariffs, quotas and embargoes are examples of

  • A. trade restriction policies
  • B. monetary policies
  • C. fiscal policies
  • D. foreign exchange policies
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Download WAEC May/June App - Get all past questions and answers, 100% offline - 43208
WAEC offline past questions - with all answers and explanations in one app - Download for free
Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts
WAEC Past Questions, Objective & Theory, Study 100% offline, Download app now - 24709