Question 4221:

• WAEC 2021

(a) Define product retailing
(b) Outline any three roles performed by the wholesaler to the manufacturer
(C) ldentify any three problems associated with distribution ol products

Question 4222:

• WAEC 2021

(a) Define price elasticity of demand
(b) Distinguish between elastic demand and Inelastic demand
(C) Using diagrams. explain what happens to a traders total revenue demand for his product is:
(i) elastic
(ii) inelastic

Question 4223:

• WAEC 2021

(a) Stale three characteristics of perfect competition,
(b) With the aid of diagrams, explain equilibrium positions of a perfectly competitive firm in the: (i) short-run: (ii) long-run

Question 4224:

• WAEC 2021

(a) Explain how the Central Bank controls money supply through the use of: (i) open market operation (ii) bank rate.
(b) Outline four functions performed by the Central Bank of your country.

Question 4225:

• WAEC 2021

(a) Distinguish between domestic trade and external trade.
(b) Distinguish between terms of trade and balance of trade
(c) Outline four causes of balance of payments deficit in a country