Waec Economics Past Questions and Answers

Question 1206:

• WAEC 2011

An arrangement of data in rows and columns is referred to as

A. Graph
B. Bar chart
C. Pie chart
D. Table

Question 1207:

• WAEC 2011

A normal demand curve slopes

A. Downward from left to right
B. Upwards from right to left
C. Downwards from right to left
D. Upwards from left to right

Question 1208:

• WAEC 2011

The co-efficient of income elasticity of demand for inferior goods is

A. Positive
B. Equal to one
C. Less than one
D. Negative

Question 1209:

• WAEC 2011

If a 20% rise in price of Whiskey leads to a 30% increase in quantity demanded of Schnapps, the cross elasticity of demand is

A. 3.0
B. 2.5
C. 2.3
D. 1.5

Question 1210:

• WAEC 2011

Palm oil and palm kernel have

A. Competitive supply
B. Excess supply
C. Joint supply
D. Composite supply