Waec Economics Past Questions For Year 2006
Question 36
Distribution of goods and service is hindered by
- A. good road network
- B. efficient storage facilities
- C. too many middlemen
- D. adequate market information
Question 37
when the quantity of a commodity supplied increases and the quantity demanded decreases , there will be
- A. a rise in price
- B. no change in price
- C. price fluctuation
- D. a fall in price
Question 38
In the normal market situation , when the price of a commodity rises the
- A. demand for the commodity will rise
- B. demand for the commodity will fall
- C. supply of the commodity will be constant
- D. supply of the commodity will fall
Question 39
In the analysis of utility theory, the basis of demand is
- A. marginal utility
- B. average utility
- C. fixed utility
- D. diminishing utility
Question 40
what are inferior goods? These are goods
- A. that are generally in short supply
- B. that are no longer in demand
- C. whose demand falls as income increase
- D. whose price falls as demand increases
