Waec Economics Past Questions and Answers

Question 1611:

• WAEC 2018

an exceptional demand curve can result from?

A. Increase in prices of raw materials
B. Increase in the size of the population
C. Expectation of future price increase
D. Change in taste of the consumer

Question 1612:

• WAEC 2018

palm oil and palm kernel are in?

A. Joint supply
B. Competitive demand
C. Competitive supply
D. Complementary demand

Question 1613:

• WAEC 2018

which of the following is true about supply of land?

A. Its higher in the urban than rural areas
B. Varies with time
C. Rises with demand
D. Is fixed

Question 1614:

• WAEC 2018

the backward bending supply curve of labour indicates?

A. An abnormal supply situation
B. The law of supply
C. That labour supply and wage are directly related
D. That the elasticity of supply is uniform

Question 1615:

• WAEC 2018

A supply curve parallel to the X- axis indicates?

A. Fairly elastic supply
B. Infinitely elastic supply
C. Fairly inelastic supply
D. Perfectly inelastic