WAEC SSCE - Economics - 2018 (Objective)

A market is in equilibrium when?

income is redistributed when the rich are progressively taxed and?

an industry is described as a group of firms

the stock exchange is an example of the?

the poorer the country, the larger the percentage of labour force engaged in?

the backward bending supply curve of labour indicates?

if workers at the school canteen sell during the holidays, this is an example of?

what happens when the central bank increases bank rate in an economy

a downward sloping demand curve means that?

A firm average cost decreases in the longrun because?

positive checks as envisaged by Thamos Malthus can be prevented if

public limited liability companies are democratic in nature because?

A price floor is usually fixed 

which of the following is not a measure for reducing balance of payments deficits?

if the price of commodity X rises and consumers shift to commodity Y, then commodity X and Y are?

Holding money to take care of contigencies is?

The larger a firm, the lower its cost of production

This statement explains the?

wholesalers play an important role in the distribution of goods and services because they?

local firms can help in reducing unemployment in a country when?

at output level 5, the total variable cost is?

in order to increase revenue, government should tax commodities for which demand is? 

producers operating in a free market economy are more efficient as a resulf of?

in a country with large population of full-time housewives, national income 

which of the following is true about supply of land?

which of the following forms of economic integration is a member nation free to impose duty against

one benefit a country can derive from the extraction of crude oil is increase in?

Economic problem arise in all society because?

if the marginal utility of a commodity is equal to its price then

the organisation of productive factors is the reponsibility of the?

which of the following measure can be adopted to stabilize the external value of the local currency?

A supply curve parallel to the X- axis indicates?

palm oil and palm kernel are in?

The largest component of national income in developing countries consist of?

An electrical engineer who is teaching physics in a secondary school is said to be 

which of the following is not emphasized in a production possibility curve

if a housewife has meat and tomatoes, she must find someone who wants meat and has tomatoes to give. this concept is described as?

one advantage of international trade is that

which of the following cannot be classified as a natural resource

in the event of bankruptcy owners of joint-stock companies lose?

an exceptional demand curve can result from?

goods whose demand vary directly with money income are called?

which of the following factors is not a reason for farmer's unstable incomes

Nations engage in international trade because of difference in?

in the the longrun, a firm must shut down if its average revenue is?

demand pull inflation is likely to be caused by?

which of the following activities will not lead to economic growth?

The International bank for reconstruction and development (IBRD) performs the following functions except?

A baker bought flour and other ingredients for $250.00, spent $52.00 on distribution, sold the bread for $320.00. the value added by the baker is?

the total fixed cost is?