Waec Economics 1991 Past Questions and Answers

Question 21:

• WAEC 1991

A shift of the demand curve to the right when the supply curve remains constant , implies that

A. Both price and quantity demanded will increase
B. Only price increases
C. Both price and quantity demanded will decrease
D. The price remains constant
E. The price falls

Question 22:

• WAEC 1991

The natural growth rate of a population is the

A. Sum of the birth rate and death rate
B. Sum of the birth rate and the net immigration rate
C. Birth rate minus the death rate
D. Birth rate divided by the net immigration
E. Death rate minus the net immigration

Question 23:

• WAEC 1991

in the event of a limited liability company going into liquidation, each shareholder

A. May lose a maximum of the amount he has invested
B. Lose nothing
C. Loses everything including his house
D. May have unlimited liability
E. Will lose the amount he has invested plus a proportion of his bank account

Question 24:

• WAEC 1991

Which of the following are direct taxes?

A. Sale taxes
B. Excise duties
C. Income and company taxes
D. Tarrif duties
E. Commodity taxes

Question 25:

• WAEC 1991

Which of the following is a function of money? It is

A. Portable
B. A standard of diferred payment
C. Relatively stable in value
D. Generally acceptable
E. An easily divisible item