Waec Economics 2005 Past Questions and Answers

Question 26:

• WAEC 2005

information about new goods is passed on to buyers through

A. Advertising
B. Retail trade
C. The manufacturer
D. Wholesale trade

Question 27:

• WAEC 2005

The profit of the producers can be calculated as the

A. Total cost less total revenue
B. Average revenue less average cost
C. Total revenue less total cost
D. Marginal revenue less marginal cost

Question 28:

• WAEC 2005

The direct exchange of one goods for another without the use of money is known as

A. Foreign exchange
B. Exchange rate
C. Expenditure rate
D. Barter

Question 29:

• WAEC 2005

Acceptability, durability, homogeneity and portability are all attributes of good

A. Markets
B. Money
C. Banks
D. Government

Question 30:

• WAEC 2005

The term demand for money means

A. Desire to borrow money from people
B. Desire of an individual to invest all his money in projects
C. Willingness of people to hold money
D. Wilingness of people to keep all their resources in assets