Waec Economics 2002 Past Questions and Answers

Question 21:

• WAEC 2002

A commodity is said to have derived demand when it

A. Has a joint demand with another commodity
B. Is demanded by the rich only
C. Is demanded for immediate consumption
D. Is demanded because of what it can help to produce

Question 22:

• WAEC 2002

Which of the following statements about population is correct?

A. Optimum population whenever achieved does not change
B. Under-population implies that available resources are not use to full capacity
C. Over-population leads to a higher per capital output
D. Optimum population leads to overcrowding of cities

Question 23:

• WAEC 2002

Malthus population theory stated that

A. Higher death rate may lead to low productivity
B. Population may outgrow the means of subsistence
C. People will always decide to have children
D. Migration may leave some parts of the world barren

Question 24:

• WAEC 2002

One of the criticisms of population increase is that it result in

A. A rise in people's standard of living
B. Low level of illiteracy
C. Low level of taxation
D. Increase in government expenditure

Question 25:

• WAEC 2002

Which of the following is not likely to be an effect of a growing population?

A. Rise in demand
B. Unemployment
C. Fall in standard of living
D. High per capita income