2005 WAEC SSCE Economics Past Questions

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2005

when all factors input are reduced by half, the production possibility curve will shift

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The production factor, whose entire world supply is fixed is

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The desire for goods without the ability to pay is called

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Price control refers to

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To achieve an equilibrium position, the consumer must buy so much of each commodity whose price is equal to its

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A factor that has slowed down the rate of industrial development in West Africa is

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A group of firm producing similar commodities for the same market constitute

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If elasticity of demand for a commodity is less than one, demand is

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one of the factors determining price elasticity of demand for a commodity is the

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If the government fixed a price of a commodity above equilibrium price, the quantity supplied will be

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At the equilibrium price, quantity demanded is

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amount of goods offered to the market at respective prices and presented in a table is called

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information about new goods is passed on to buyers through

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In which of the following business units are the owners mostly customers?

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Wholesalers are often criticized because they

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The transfer of ownership of a public enterprise to individuals and firms is called

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A persistent and appreciable rise in the general level of price is known as

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The term demand for money means

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Acceptability, durability, homogeneity and portability are all attributes of good

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The direct exchange of one goods for another without the use of money is known as

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