Economics 2006 Waec Past Questions and Answers

Question 11 :

• WAEC 2006

middlemen in an economy perform the function of

A. Distribution
B. Exchange
C. Hoarding
D. Protector

Question 12 :

• WAEC 2006

one of the factors affecting geographical distribution of population is

A. High birth rate
B. High death rate
C. Encouragement of early marriage in the rural area
D. Climate conditions of the different parts of the country

Question 13 :

• WAEC 2006

Standardization of products or services is a feature of

A. Large firms
B. Retailer
C. Small firms
D. Wholesaler

Question 14 :

• WAEC 2006

The amount of satisfaction obtained from the consumption of a commodity at a particular time is called

A. Marginal utility
B. Diminishing return
C. Total utility
D. Average utility

Question 15 :

• WAEC 2006

what are inferior goods? These are goods

A. That are generally in short supply
B. That are no longer in demand
C. Whose demand falls as income increase
D. Whose price falls as demand increases