Waec Economics 2005 Past Questions and Answers

Question 11:

• WAEC 2005

Age distribution is important because it helps the government to

A. Check rural-urban drift
B. Determines the number of foreigners
C. Determines the number of factories
D. Undertake effective planning

Question 12:

• WAEC 2005

A group of firm producing similar commodities for the same market constitute

A. A cartel
B. An industry
C. A co-operative
D. Wholesaler

Question 13:

• WAEC 2005

a factor that has slowed down the rate of industrial development in West Africa is

A. Inadequate technology
B. Increasing rate of manpower production
C. Increased demand for local goods
D. Intervention of the government in business activities

Question 14:

• WAEC 2005

To achieve an equilibrium position, the consumer must buy so much of each commodity whose price is equal to its

A. Marginal utility
B. Total utility
C. Average utility
D. Variable utility

Question 15:

• WAEC 2005

Price control refers to

A. The way of making more goods available in the market
B. A policy of ensuring stable price in the market
C. A general reduction in the price level
D. Effective working of the forces of demand and supply