Waec Economics Past Questions and Answers

Question 1391:

• WAEC 2014

Examples of joint stock banks are

A. Commercial banks
B. Co-operative credit societies
C. Central banks
D. Development banks

Question 1392:

• WAEC 2014

Which of the following is not a characteristic of a developing country? High

A. Real per capita income
B. Level of primary production
C. Population growth rate
D. Level of illiteracy

Question 1393:

• WAEC 2014

Goods consumed out of habit have

A. Elastic demand
B. Perfectly elastic demand
C. Inelastic demand
D. Unitary elastic demand

Question 1394:

• WAEC 2014

If the coefficient of price elasticity of demand is 0.1, demand is

A. Elastic
B. Inelastic
C. Zero elastic
D. Unitary elastic

Question 1395:

• WAEC 2014

The profit of a producer is the difference between

A. Total cost and marginal cost
B. Total revenue and total cost
C. Average cost and total cost
D. Price and total cost