Waec Economics 1993 Past Questions and Answers

Question 41:

• WAEC 1993

(a) Explain each of the following measures of central tendency
(i) mean;
(ii) median;
(iii) mode
(b) Calculate the mean, median and mode of the following set of numbers: 21, 22, 23,24, 25, 26, 23, 28, 29, 30, 24, 31, 34, 23

Question 42:

• WAEC 1993

What are the factors that determine the price elasticity of demand for a commodity?

Question 43:

• WAEC 1993

What are the likely reasons for government participation in the location of industries in Nigeria?

Question 44:

• WAEC 1993

What functions do wholesalers perform for manufacturers?

Question 45:

• WAEC 1993

Explain each of the following types of taxes:
(a) Proportional tax;
(b) progressive tax;
(c) regressive tax.