Economics 1999 Waec Past Questions and Answers

Question 31 :

• WAEC 1999

The creation of utility can be referred to as

A. Value added
B. Profit maximization
C. Entreprenuership
D. Production

Question 32 :

• WAEC 1999

Government revenue will increase if tax is imposed on a good whose demand is

A. Elastic
B. Inelastic
C. Unitary elastic
D. Perfectly elastic

Question 33 :

• WAEC 1999

Occupational distribution of population is mainly influenced by

A. Economic factors
B. Religious factors
C. Geographical factors
D. Social factors

Question 34 :

• WAEC 1999

proportional tax refers to

A. Taxation of the rich only
B. Equal tax rate for all people
C. Unequal tax rate for all people
D. Taxation of civil servants only

Question 35 :

• WAEC 1999

which of the following is not n item of capital expenditure?

A. Construction of highways
B. Building of dams
C. Payment of salaries and wages
D. Building of a new universities