Waec Economics Past Questions and Answers

Question 1211:

• WAEC 2011

A supply curve which is vertical has an elasticity co-efficient of

A. 0.0
B. 0.5
C. 1.5
D. 2

Question 1212:

• WAEC 2011

if the current price of an apple is twice that of last year, it implies that the value of money is

A. Stable
B. Falling
C. Rising
D. Getting stronger

Question 1213:

• WAEC 2011

price fixed above the equilibrium is to

A. Protect agricultural producers
B. Discourage agricultural producers
C. Lower the price of agricultural producers
D. Favour consumers

Question 1214:

• WAEC 2011

A consumer purchasing a commodity X will maximize his satisfaction if

A. Px = MUx
B. Px ≥ MUx
C. Px > MUx
D. Px < MUx

Question 1215:

• WAEC 2011

When total utility is constant, it means marginal utility is

A. Increasing
B. Zero
C. Decreasing
D. One