WAEC SSCE - Economics - 2016 (Objective)

Efficiency of labour in a country is determined by the following factor except the

Which of the following will encourage capital intensive farming

A price floor results in

Charging different prices for the same commodity is a feature of a

At which stage of production should a firm shut down? when

The long run is a period when

Which of the following items is not included in the measurement of the national income using the income approach

The principle of comparative cost advantage was propounded by

The difference between GDP and GNP

What effect will an increase in price have on the total revenue of a firm whose product has inelastic demand? total revenue will

Fiscal policy that can control inflation will include the use of

International income accounting, double counting occurs when

A bank note is said to be a legal tender because it is

Which of the following financial institutions cannot be found on the capital market of a country

Which is following is a cause of under-development in West Africa

Indirect taxes are generally

Location of firm in rural areas may

Which of the following measures will hinder efficient distribution of goods in West Africa

During Inflation, interest rate will

The rate at which a country's export is exchanged for her imports is

One of the physical measures that can be used to reduce the volume of imports is the

How does producers expectation of a price fall affect the supply curve of a product? There will be

When a number of countries agree to remove all trade barriers among themselves and at the same time charge a common tariff against non member countries, it known as

Balance of payment surplus implies that receipts for exports are

Price elasticity of demand or supply measures how responsive

The demand curve for neccessity is usually

Indigenization policy is a measure aimed at

An entrepreneur is encouraged to adopt division of labour in production because it

The difference between GDP and GNP

Cost push inflation is likely to arise when

Which of the following is not a major problem of development

Which of the following international organizations is concerned with the stabilization of the balance of payments? the

The demand for torch and batteries is an example of

One feature of a growing population

One relationship between marginal utility and total utility. When total is 

Which of the following best explains why more foreign investments are not attracted to West Africa

In a partnership, the conduct of members is guided by

The type of unemployment that occurs as a result physical or mental disability of labour is known as

The stock market is a market for