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Athe way of making more goods available in the market
Ba policy of ensuring stable price in the market
Ca general reduction in the price level
Deffective working of the forces of demand and supply
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Question 42
waec2005
To achieve an equilibrium position, the consumer must buy so much of each commodity whose price is equal to its
Amarginal utility
Btotal utility
Caverage utility
Dvariable utility
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Question 43
waec2005
a factor that has slowed down the rate of industrial development in West Africa is
Ainadequate technology
Bincreasing rate of manpower production
Cincreased demand for local goods
Dintervention of the government in business activities
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Question 44
waec2005
A group of firm producing similar commodities for the same market constitute
Aa cartel
Ban industry
Ca co-operative
Dwholesaler
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Question 45
waec2005
Age distribution is important because it helps the government to
Acheck rural-urban drift
Bdetermines the number of foreigners
Cdetermines the number of factories
Dundertake effective planning
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Question 46
waec2005
which of the following determines the size of a country's population ? (I) Birth rate (II) Death rate (III) Migration rate (IV) Importation rate (V) Unemployment rate
A(I), (II) and (V)
B(II) and (IV)
C(I),(II) and (III)
D(IU) and (V)
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Question 47
waec2005
when a worker changes from one tye of job to another, it is called
Ageographical mobility of labour
Boccupational mobility of labour
Cimmobility of labour
Drural-urban migration
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Question 48
waec2005
when all factors input are reduced by half, the production possibility curve will shift
Aoutwards
Binwards
Cdownwards
Dupwards
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Question 49
waec2005
The production factor, whose entire world supply is fixed is
Aland
Bskilled labour
Ccapital goods
Dentrepreneur
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Question 50
waec2005
The remuneration of the entrepreneur as a factor of production is called
Awages
Bsalary
Cinterest
Dprofit
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Question 51
waec2005
The 150.00 Naira which Olu would have used to purchase a textbook was used to buy a T-shirt . This implies that
AOlu's real cost is 150.00 Naira
BOlu's opprtunity cost is the T-shirt he bought
COlu's opportunity cost is the textbook
DOlu's money cost is also the real cost
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Question 52
waec2005
A list of consumer's wants arranged in order of priorities is known as
Aa budget
Ban opprotuniy cost
CA scale of preference
Dchoice
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Question 53
waec2005
Farming, mining and fishing are
Aprimary production
Bsecondary production
Ctertiary production
Dintermediate production
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Question 54
waec2005
Economic activities are undertaken to solve the problem of
