Waec Economics Past Questions
Question 1526
A major characteristic of natural resources is that they
- A. are unlimited in supply
- B. have high cost of production
- C. are free gifts of nature
- D. do not command any price
Question 1527
An increase in the price of commodity X led to a fall in the supply of commodity Y. Commodities X and Y are
- A. competitive goods
- B. composite goods
- C. jointly supplied
- D. derived goods
Question 1528
A firm is said to be a Public Joint-Stock Company when it
- A. is owned by the government
- B. operates as a public corporation
- C. is a limited liability company
- D. sells its shares to memebers of the public
- E. is administered by the public
Question 1529
The use of interest rates to control the money supply is a
- A. control policy
- B. monetary policy
- C. developmental policy
- D. fiscal policy
