Waec Economics Past Questions and Answers

Question 676:

• WAEC 2002

When elasticity is zero the demand curve is

A. Perfectly elastic
B. Perfectly inelastic
C. Concave
D. Downward sloping

Question 677:

• WAEC 2002

An increase in the demand for butter reduces the demand for margarine, this type of demand is called

A. Competitive demand
B. Elastic demand
C. Derived demand
D. Composite demand

Question 678:

• WAEC 2002

A commodity is said to have derived demand when it

A. Has a joint demand with another commodity
B. Is demanded by the rich only
C. Is demanded for immediate consumption
D. Is demanded because of what it can help to produce

Question 679:

• WAEC 2002

Which of the following statements about population is correct?

A. Optimum population whenever achieved does not change
B. Under-population implies that available resources are not use to full capacity
C. Over-population leads to a higher per capital output
D. Optimum population leads to overcrowding of cities

Question 680:

• WAEC 2002

Malthus population theory stated that

A. Higher death rate may lead to low productivity
B. Population may outgrow the means of subsistence
C. People will always decide to have children
D. Migration may leave some parts of the world barren