Waec Economics Past Questions and Answers

Question 516:

• WAEC 1999

The quantity demanded of a commodity is influenced only by changes

A. Tastes
B. Weather
C. Price of the commodity
D. Price of other commodities

Question 517:

• WAEC 1999

which of the following is an indirect tax

A. Income tax
B. Company tax
C. Profit tax
D. Sales tax

Question 518:

• WAEC 1999

When a pen and a book is demanded together, the demand is said to be

A. Composite
B. Competitive
C. Joint
D. Derived

Question 519:

• WAEC 1999

The reward for capital is

A. Interest
B. Rent
C. Risk premium
D. Premium

Question 520:

• WAEC 1999

Infant industries are industries that

A. Deals in the production of infant books
B. Are in their earlier stage of production
C. Produce dresses for infants
D. Are well established