Waec Economics 2016 Past Questions and Answers

Question 21:

• WAEC 2016

Charging different prices for the same commodity is a feature of a

A. Perfect competition
B. Commodity market
C. Monopolistic competition
D. Monopoly market

Question 22:

• WAEC 2016

In a partnership, the conduct of members is guided by

A. A memorandum of understanding
B. The article of partnership
C. An article of association
D. A partnership constitution

Question 23:

• WAEC 2016

Indigenization policy is a measure aimed at

A. Privating the existing business owned by the state
B. Commercializing state owned businesses
C. Reducing foreign economic domination
D. Making the indegenes managing directors of businesses

Question 24:

• WAEC 2016

Which of the following measures will hinder efficient distribution of goods in West Africa

A. Improving roads networks
B. Provision of adequate storage facilities
C. Instituting price control
D. Formation of producers' co-operative societies

Question 25:

• WAEC 2016

The type of unemployment that occurs as a result physical or mental disability of labour is known as

A. Frictional unemployment
B. Structural unemployment
C. Cyclical unemployment
D. Residual unemployment