Waec Economics 2014 Past Questions and Answers

Question 6:

• WAEC 2014

Households make economic decisions because they want to

A. Make more profit
B. Increase their salaries and wages
C. Increase their purchases
D. Maximize their satisfaction

Question 7:

• WAEC 2014

A normal supply curve has a positive slope which indicates that

A. Sellers are willing to sell more at a lower price
B. Sellers are indifferent to prices
C. Sellers are willing to sell more at a higher price
D. There is always a fixed supply

Question 8:

• WAEC 2014

To control inflation, the central bank of a country may adopt

A. An expansionary monetary policy
B. A restrictive monetary policy
C. An increased wage policy
D. A deficit financing policy

Question 9:

• WAEC 2014

Disposable income is the income earned

A. By the nationals of a country resident within the country
B. From prouctive activities of nationals of a country both at home and abroad
C. When personal income tax is deducted from personal income
D. When the gross income of an individual is added to person income tax

Question 10:

• WAEC 2014

Livestock production in West Africa is hindered mainly by

A. Inadequate demand
B. Use of traditional implements
C. Land tenure system
D. Pests and diseases