Waec Economics Past Questions and Answers

Question 1551:

• WAEC 2017

if the weight of five puppies in kilograms are 3.5, 3.0, 4.2, 5.0 and 4.3, then mean weight of the puppies is?

A. 3.5 kg
B. 4.0 kg
C. 4.2 kg
D. 5.0 kg

Question 1552:

• WAEC 2017

if the coefficient of cross elasticity of demand for goods Y and Z is positive, the two goods are?

A. Complements
B. Substitutes
C. Luxurious
D. Inferior

Question 1553:

• WAEC 2017

the difference between demand and wants is in the

A. Desire for the commodity
B. Significance of the commodity
C. Ability to pay for the commodity
D. Economic value of the commodity

Question 1554:

• WAEC 2017

A demand curve parallel to the Y-axis indicates

A. Fairly elastic demand
B. Perfectly elastic demand
C. Perfectly inelastic
D. Fairly inelastic demand

Question 1555:

• WAEC 2017

which of the following is an example of derived demand

A. Textbook
B. Labour
C. Staple food
D. Mobile phone