Waec Economics Past Questions and Answers

Question 256:

• WAEC 1993

the occupational distribution of population in most West African countries shows the highest concentration in

A. Agriculture and aalied industries
B. Mining and manufacturing
C. The distributive trade
D. Commerce and industries
E. Mining and services

Question 257:

• WAEC 1993

The growth of the population is the ?

A. Annual increase in population
B. Total population of a country at a given time
C. Addition to the total population over a given period
D. Increase in the working population over a given period
E. Percentage increase in population in a given year

Question 258:

• WAEC 1993

A situation in which an increase in demand for certain goods leads to a fall in demand for other goods is known as

A. Joint supply
B. Derived demand
C. Competitive demand
D. Competitive supply
E. Composite demand

Question 259:

• WAEC 1993

A market equilibrium exist when

A. Demand and supply are equal
B. The market is large
C. The price is fluctuating
D. No buyer goes home empty-handed
E. No seller has an unsold stock

Question 260:

• WAEC 1993

The price system is

A. The market price of commodities
B. A market where a single price rules
C. A system of price allocation to the products of the same firm
D. A system of resource allocation through supply and demand interaction
E. A system which the market price is determined only through haggling